By Fidelity International

There is a quiet revolution happening. It is not about climate change, market cycles or artificial intelligence. It is about time – more specifically, how much more of it we have, and the ability to do what we want with that extra time. For the first time in human history, older populations are growing at a faster pace than the youngest cohorts, ushering in an unprecedented demographic shift worldwide. By 2050, 2.1 billion people – nearly 22% of the global population – will be over 60, including 426 million over 80. In contrast, 50 years ago just 8.38% of the total population were over 60.1 To understand the implications of this shift so that we can better support our clients to make the most of the longevity dividend – the economic and social value created by longer, healthier lives, Fidelity International partnered with the National Innovation Centre for Ageing (NICA), integrating a global survey of 11.800 individuals aged 50 and over. In this report, we will first discuss why longevity demands reframing. Second, we share our research findings, organised within the four pillars of longevity preparedness – financial stability, physical health, emotional wellbeing, and social connectivity, focusing on the financial pillar due to its crucial role in supporting the others. We also consider ways to reduce longevity risk. Third, we suggest how collaborative adjustments by governments, society, corporations – including the financial sector – and individuals can bring about a transition from an ageing society to a longevity society.

Get the report here