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

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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…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports