Birth rates are falling and life expectancy is rising, and around the globe, populations are greying. From Berlin's pension protests to the Chinese mainland's booming elder-care market, retirement as we know it is transforming. On The Agenda, Juliet Mann brings together a panel of experts to ask: can the world avoid a retirement crisis, or are we headed toward insolvency?
Du Peng, Dean of the School of Population and Health at Renmin University, notes that the Chinese mainland's elder-care sector is surging with new tech-driven solutions and community programs. 'We are witnessing a golden opportunity for innovation,' he says, pointing to everything from robot companions to telemedicine platforms targeting older adults.
Nicholas Barr, Professor of Public Economics at the London School of Economics, warns that pension systems in many G20 nations face mounting funding gaps. 'Without timely reforms, governments may struggle to pay benefits to a growing retired population,' he cautions, highlighting recent protests across Europe as a sign of public frustration over delayed policy action.
Haleh Nazeri, Longevity Economy Lead at the World Economic Forum, sees a different path. She argues that longer lives could spark a 'longevity dividend,' creating new industries—from adaptive housing to intergenerational co-working spaces—that drive economic growth and social impact.
As governments scramble to adapt, the panel agrees that cross-border collaboration, data-driven policy design, and investment in digital health will be key. For entrepreneurs and changemakers, the silver economy offers fertile ground for startups and social ventures that empower older adults and relieve pension pressures.
Will our aging societies spiral into crisis, or will they unlock a new era of innovation and prosperity? The answer may lie in how quickly we embrace change—and who steps up to lead the silver revolution.
Reference(s):
Aging and Pensions: Can the world avoid a retirement crisis?
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