Thursday, May 26, 2005

World Bank Report: World Faces Pensions Crunch, Major Reforms Unavoidable

As policymakers in the United States, Europe and Asia grapple with the long-term affordability of their pensions systems, a new World Bank report says that growing demographic and economic pressures are forcing both developing and developed countries to undertake urgent pension reform. According to the report, Old-Age Income Support in the Twenty-First Century: An International Perspective on Pensions and Reform, more women in the global workforce, rising divorce rates, changing employment patterns in the global economy, rising budget deficits, and rising numbers of elderly are making the case for pension reform unavoidable.

Source: Kansas City infoZine (May 24, 2005)

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