by Amy Laverock | Mercer Marsh Benefits and Neil Lloyd | Mercer
It’s no secret that populations in many countries around the world are graying, especially as they experience lower birth rates and longer lifespans. Since 1980, the number of people over age 60 has more than doubled and is expected to double again by 2050 to nearly 2.1 billion. (That’s one in five persons.)1,2
Globally, this longevity, coupled with the recent extended period of low interest rates and rising medical costs, is fueling concerns that retirement savings may not be enough to support people throughout their longer lifetimes.
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Originally published in the Q4 2019 edition of “Benefits Quarterly”
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1 United Nations. World Population Ageing (2017): www.un.org/en/development/desa/population/publications/pdf/ageing/WPA2017_Highlights.pdf
2 World Health Organization. Ageing and Health (February 2018): www.who.int/news-room/fact-sheets/detail/ageing-and-health