The world’s population is aging, and few pensions systems have taken action to prepare for the fast-changing future. Citizens are wondering what’s next. Eighty-two percent of respondents to the Accenture Global Retirement Services Survey say that they are worried about their financial situation after retirement, and 57 percent believe that their standard of living will drop when they stop working.1
This short paper explores four myths that uncover true realities for pensions systems:
Myth 1. The State will no longer support people in retirement.
Myth 2. Work life ends. Retirement begins.
Myth 3. Training is for the young.
Myth 4. The old will be reliant on the young.
Pensions systems have a ripe opportunity to move past the myths and take action to explore comprehensive active aging policies.
1 Accenture report, “Global Retirement Services Survey: Consumers See the Light as Retirement Shortfall Looms”; July 17, 2012.