Swiss Re: How can we fund retirement income and long-term care

Pensionskasse
(Foto: eyetronic - Fotolia.com)

(Foto: eyetronic – Fotolia.com)

Zurich – The world is ageing. Increasing life expectancy and falling birth rates are well established in developed countries –and similar trends are taking place rapidly in many emerging economies.

This is a great challenge for our society. Welfare models have been built for a large number of young people supporting a small number of old people. Instead, a growing elderly population often depends on a declining younger population. As a result, governments are seeking ways to continue funding the promises made to older people. This often involves placing more emphasis on future individual saving, meaning that the young could pay for some of the current seniors› ageing needs as well as their own.

Time for a rethink of the education-career-retirement model?
How can we continue to afford funding retirement income, social care and healthcare needs without overburdening the young? How can we incentivise people to better prepare for their old age? Could insurance play a greater role? Is it time for a rethink of the education-career-retirement model? Entrepreneurs, industry experts, government representatives and researchers will discuss the roles of different generations in tackling the financial challenges posed by our ageing societies.

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