“You can be young without money but you can’t be old without it.” If we didn’t know better, we could well imagine American playwright Tennessee Williams had the pension systems of the 21st century on his mind instead of Cat on a Hot Tin Roof while penning these lines.
If you see the crystal glass as half-full, there’s much to look forward to in the future – a flexible work life; efficient and innovative technology-backed services; AI-powered homes and workplaces; a sustainable society with equitable growth and environment-friendly policies...the list goes on.
In the half-empty part, lies pension.
Old-age provision is not exactly an exciting topic. And yet, it is one of the most important themes of this century, with the ability to ruin our very social fabric if not dealt with properly.
Not everyone has the luxury of a fat inheritance to sail through sunset years. Many of us work throughout our lives, putting our faith in state pension systems to take care of us during our old age. Which begs the question: Are all countries prepared to take on the responsibility of their older citizens?
In their latest , Allianz economists measure the pension pulse of 70 countries and find that the Swedes, the Belgians and the Danish are the best placed to enjoy a financially comfortable dusk. On the other hand, Sri Lanka, the UAE and Lebanon are no countries for old men, women and non-binaries who may be dependent on pension for their livelihoods.