means An ageing society: fewer and fewer active workers have to pay for the pensions of an increasing number of pensioners. And the retirees are getting older and age – this means that The duration in which they receive their pensions, will be extended as a result of the increase in life expectancy. The General decline in the birth rate exacerbated the Situation.World's sharp decline in the birth rates Credit Suisse In all examined regions of sinking birth rates. The Figures are stabilising at a low level.
The Credit Suisse Research Institute (CSRI) examined in a recent study, the consequences of such developments for the pension systems in different countries.
The results show that "especially in the industrialized countries, the younger people expect that retirement plans lose as a source of income in old age in importance. The positive message: Many people use their income from work "as your savings plan for the future".
The Central findings of the study:
- The demographic change increases the pressure on the existing pension systems in the world. Particularly fatal to The political decision-makers are faced with a strong resistance to a Reform of the pension systems. The shows currently on the duration of protests against pension reform in France. The study warns that The longer the necessary reforms are delayed, the greater the negative consequences of the delay.
- Many pension systems have rigid structures . This makes it more difficult to the needs of a changing society.
- The previous concept of the three-stage life cycle training, working life and retirement should be reconsidered. In the future new forms of part-time working models and training must be taken into account. The new models can make according to the study, the Transition to longer working lives.
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a particularly promising approach to reform: The most sensible "would be a gradual increase of the retirement age".
despite all the Differences between the pension systems of individual countries: it Usually requires a mixture of several measures, "so that the retiree can lead to your usual standard of living," says Oliver Adler, chief economist Switzerland at Credit Suisse.
The authors do not seek to blur differences between developed and developing countries users. They note that the desire to continue professional activity in the actual retirement age is more pronounced in developing countries. The simple reason for this commitment: In such countries, there is a lack of sufficient financial support from the pension plans.population in Asia is aging particularly strong Credit Suisse shows The graph, in what year the group of Over-65-Year-olds in each of the countries is larger than the group of 10 - to 25-Year-old.
The study findings in more Detail:Aging society and the retirement wave
The study notes: "The people are with each decade older." This applies worldwide. Although the industry faced countries, first of all with the consequences, but this development is not immune to developing countries.
Because of the drop in birth rates and higher life expectancy, the proportion of old age pensioners in the population rises. The proportion of over-65-year-old has risen in the developed countries from 7.7 percent in 1950 to 19 percent. The forecasts come to the conclusion that the share grows up to 2050, to about 27 percent. In the developing countries the value in 1950, 3.8 percent. 2020 is expected to reach 7.4 percent. So much money you get at the age click Here for pensions calculatorlook at Switzerland: 51 is the new 65 Credit Suisse, The life expectancy of the citizens: The chronological age of 65 years compared to the biological age in Switzerland; biological age-adjusted mortality rates of 1950-1955 The long road to a sustainable pension system
in the past, many countries have taken steps to strengthen their pension systems financially. The study notes: "among the most important reforms of the past decades is the shift away from defined benefit pension plans in favor of defined contribution plans."
in Spite of all the part a consequence of the already taken steps were not sufficient. The supply systems should be made "sustainable".
- would The citizens be able to grow, encouraged, or forced, more money for your retirement back.
- tax increases can be mobilised additional resources. The the authors of the study, however, is unrealistic, given the already high level of taxation in many countries.
- A raising the retirement age would be a suitable solution to reduce the financing gap. This measure needs to be complemented by incentives for a longer working life.
- The citizens could accept to decline in old-age pensions , in order to secure the financial stability of the pension system.
In most of the countries will be a combination of different measures may be necessary, in order to allow future pensioners, their standard of living to continue, is the conclusion of the study. If you see these five Fitness-avoid errors, make guaranteed to FOCUS Online If you these five Fitness-avoid errors, make guaranteed to
mbe Updated Date: 26 January 2020, 01:01