World's Major Economies to Come up $400 Trillion Short on Retirement Savings
- World Economic Forum study calculates savings worldwide
- U.S. shortfall grows $3 trillion a year, report finds
A woman, left, and a man look on as they sit on a bench at a beach in Sydney, Australia, on Wednesday, April 1, 2015. The number of people in Australia aged 65 and over is expected to double by 2055.
Photographer: Brendon Thorne/Bloomberg via Getty ImagesThis article is for subscribers only.
Longer life spans and disappointing investment returns will help create a $400 trillion retirement-savings shortfall in about three decades, a figure more than five times the size of the global economy, according to a World Economic Forum report.
That includes a $224 trillion gap among six large pension-savings systems: the U.S., U.K., Japan, Netherlands, Canada and Australia, according to the report issued Friday. China and India account for the rest.