Global Aging and the Sustainability of Public Pension Systems

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Center for Strategic and
International Studies (CSIS): CSIS has published a new report, “Global
Aging and the Sustainability of Public Pension Systems,” which discusses
the efforts of twelve developed countries to reform their public pension systems
in order
to prepare for a growing older population.

It finds that progress has
been made in recent years, as the different nations have adopted various measures
to improve the financial sustainability of their public pension systems.

Many countries are moving
aggressively to boost funded retirement savings, through either mandatory funded
employer pensions or introducing personal retirement accounts.

In addition, most countries
are cutting back on expensive early retirement options.

The report notes that Australia
is a model for pension reform, as its efforts have ‘improved retirement
income prospects for workers while increasing national savings and, at least
potentially, lowering long-term govercosts.’ The report is at www.csis.org/media/csis/pubs/
pension_profile.pdf.

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