Countries Face $70 Trillion Long-Term Savings Gap: Mercer

Eight large countries, including the U.S. and the U.K., are currently facing a $70 trillion gap between aggregate long-term savings systems and expected annual retirement income needs, underscores Mercer. In its recent report  entitled “Bold ideas for mending the long-term savings gap,” the firm highlights that the size of the gap is growing, and all stakeholders should initiate urgent steps to mend the issue. Current long-term savings systems are inadequate: Mercer According to the report, the global average life expectancy at birth shot up from 34 years a few generations ago to a high of 71. Of note, about half of…