Spotlight on Demographics: A growing challenge for retirement planning

There is a growing issue: the world is ageing faster than previously forecasted, presenting greater demographic challenges to an increasing number of countries. An ageing population is likely to introduce inflationary pressures to the global economy, and government policies are likely to become less generous, meaning individuals will need to reconsider how they plan for a comfortable retirement.

While most countries are experiencing ageing populations, the pace of ageing varies significantly across nations. The world is getting older; the proportion of the global population aged over 65 has increased from 6% in 1993 to 10% in 2023, and according to United Nations (UN) forecasts, this figure will reach 17% by 2053.

In the brochure below, Benjamin Jones outlines the broad demographic changes facing the world today and the potential economic implications of those changes.