New Research Report from Watson Wyatt
Global Aging - The Challenge of the New Millennium
‘By the Year 2030, over half of all U.S. adults will be over 50 - and thus be eligible to join the American Association of Retired Persons’
The world stands on the threshold of a social transformation even a revolution - with few parallels in humanity’s past. It’s called global aging, and in the coming decades, it will subject the developed countries to extraordinary economic, social and political stress.
Global aging will place new burdens on workers and employers and pose difficult choices to voters and government leaders.
There is the staggering fiscal cost. In every major developed country, the unfunded liability for public pensions alone amounts to 100 to 250 percent of GDP - an amount far greater, in each country, than its official public debt. The burden of health benefits to tomorrow’s elderly may be even larger.
But the challenge of global aging transcends its impact on government budgets. It promises to restructure the economy, reshape the family, redefine politics and even rearrange the geopolitical order of the next century. Unlike many predictions about the future, global aging is no mere hypothesis. Its approximate timing and magnitude are already locked in. It is a revolution sure to happen - and when it has run its course, nothing will be the same.
A new research report that Watson Wyatt has produced in conjunction with the Center for Strategic and International Studies, examines in depth the challenges presented by the shifts in the ways developed world populations form families, work, save, retire and care for the aged. The whole report is available at:
http://www.watsonwyatt.com/research/
Alternatively, you can order a printed copy from your usual Watson Wyatt consultant or by completing the on-line order form which can be found on the above web site address.
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