As we have noted many times before, the future of pensions does not look good. Ignore the shortfall in assets, set aside the astronomical fees charged and overlook the inequality between the public and private sector; it is demographics that will ultimately decide our old age.
With that in mind, this report on Bloomberg highlights the scale of the challenges ahead for taxpayers and savers alike.
From Bloomberg:
State-funded pension obligations in 19 of the European Union nations were about five times higher than their combined gross debt,........... had almost 30 trillion euros ($39.3 trillion) of projected obligations to their existing populations.
