How to help an ageing population stay wealthy for longer
- Longevity can be harnessed as a force for good and a driver of economic growth.
- Financial providers increasingly diversify their products to support the wealth and lifespan of their consumers.
- Nudging behaviour towards financial planning and wellbeing can lead people to make better decisions.
Two thirds of the world’s population will be 65 years and above by 2050, according to the UN, and the projection for the global ageing economy is already estimated to reach $27 trillion by 2025 – there will be more people ageing and living longer.
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Both governments and businesses will need to introduce innovative solutions, redesign and co-create some of the existing infrastructure and business models to create an economy and ecosystem that supports the needs and the demands of an ageing population.
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Government
COVID-19 has caused a paradigm shift in the way we think, and has exposed gross injustices and inequalities rampant in our society. The appalling state of the aged care system was plain to see. Some of the world’s best healthcare systems were so quickly overwhelmed and reflected the state of under-preparedness, under-investment in both human and financial capital.
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