March 2021
09Mar

China Plans New State Pension Firm as Population Ages

China plans to create a new state-owned pension firm to tackle a massive funding gap as the world’s largest population struggles to finance retirement despite decades of economic growth. The China Banking and Insurance Regulatory Commission is mulling a national pension company with state-owned banks and insurers as shareholders, according to people familiar with the discussions. Details such as the shareholding structure and size of investment are still being hammered out, they said, declining to be identified as the plan...

March 9, 2021
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04Mar

Fraudsters prey on the fears of China’s aging population.

Shady retirement home and investment schemes have cheated China’s rapidly aging population out of hundreds of millions of dollars, spurring more than a thousand criminal cases in recent years. In a society that traditionally relied on family members to take care of elderly parents, fraudsters have been able to prey on fears that changing social norms and scarce resources will leave older people bereft, report Alexandra Stevenson and Cao Li for The New York Times. By 2025, more than 300 million...

March 4, 2021
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03Mar

Financial wellness can foster pension system in China

By Daisy Ho China faces mounting pension and retirement challenges, but it's not without silver linings. It's well known that China's huge and rapidly aging population will grapple with a shortage of pension coverage that looks set to worsen over the next few years. There is no quick fix for state pensions falling short of growing retirement needs, but policymakers see promoting private retirement saving schemes as a key means of filling the gap. Here, we see some encouraging signs, especially when...

March 3, 2021
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02Mar

Covid-19 Is Most Certainly A Retirement Story

By Teresa Ghilarducci The Covid-19 recession, like all recessions, threatens the wealth and retirement security of millions of workers. Job loss prompts people to stop saving, raid their nest eggs or go into debt by falling behind on their rent and mortgage payments. Most workers nearing retirement had insufficient retirement savings even before the recession, and many planned to delay retirement and work longer to save more. But the Covid-19 pandemic and recession made that hopeful plan to work longer...

March 2, 2021
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01Mar

China’s aging population is a bigger challenge than its ‘one-child’ policy, economists say

China’s decades-old one-child policy gained renewed attention in the last few weeks, after authorities gave mixed signals on whether they were closer to abolishing limits on how many children people can have. Authorities have rolled back the controversial one-child policy in recent years to allow people to have two children. But economists say other changes are needed for boosting growth as births fall and China’s population rapidly ages. “There are two ways to address this. One way is to relax the...

March 1, 2021
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February 2021
19Feb

Addressing the financial timebomb of ageing Australia

The 2015 Intergenerational Report found that Australia’s aged dependency ratio (the number of people over 65 for every working-age person 15 to 64) is expected to double over the next 40 years. This means there will be fewer taxpayers supporting a growing demand for pensions and services, including health and aged care. In addition, the rate of home ownership is continuing to decline among young Australians, suggesting more people will face the ongoing costs of renting once they retire. The superannuation guarantee...

February 19, 2021
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15Feb

Ageing can be cured—and, in part, it soon will be

ld age is a massacre,” wrote Philip Roth, long before the pandemic underscored its hazards. Even those who count as young must often watch the ineluctable drift of loved ones into decrepitude. Andrew Steele has a hopeful message for all those facing this prospect (ie, everyone). Old age needn’t be a massacre; in fact, old age needn’t even be old. Mr Steele’s thesis in “Ageless” is that ageing can be cured—and, at least in part, that it very soon will...

February 15, 2021
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January 2021

27Jan

How to help an ageing population stay wealthy for longer

Longevity can be harnessed as a force for good and a driver of economic growth. Financial providers increasingly diversify their products to support the wealth and lifespan of their consumers. Nudging behaviour towards financial planning and wellbeing can lead people to make better decisions. Two thirds of the world’s population will be 65 years and above by 2050, according to the UN, and the projection for the global ageing economy is already estimated to reach $27 trillion by 2025...

January 27, 2021
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25Jan

Covid-19 And The Future Of Aging: Technology For Connecting

By Joseph F. Coughlin Milken Institute Center for the Future of Aging: What impacts will the Covid-19 pandemic have on development of technologies that enable older adults to connect with their communities and live independently? Joseph F. Coughlin: By April last year, the nation changed overnight. Work commutes, shopping trips, nights out and visits with friends and family were abruptly halted. We retreated into our homes. Both fear and caution locked us inside. Suddenly, all of us were part of...

January 25, 2021
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20Jan

How to close the digital gap for the elderly

China's ageing population makes it important the country digitally enables the elderly. Globally, tech companies are trying to train the elderly up, giving in-store support with digital payments. Advanced technologies are being specifically adapted to the elderly, with a view to improving their quality of life. Many young people have embraced the convenience of digital technologies such as online shopping, car hailing, digital payments, and telemedicine. But many elderly without a grasp of the latest knowledge are at risk...

January 20, 2021
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