{"id":33791,"date":"2018-04-27T06:15:00","date_gmt":"2018-04-27T11:15:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33791"},"modified":"2018-04-27T06:15:00","modified_gmt":"2018-04-27T11:15:00","slug":"global-pension-gap-expected-to-hit-400-trillion-us-leads-the-way","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33791","title":{"rendered":"Global Pension Gap Expected to Hit $400 Trillion: US Leads the Way"},"content":{"rendered":"<header>\n<div class=\"story-header-area\">\n<div>\n<div class=\"story-header\">\n<h3><a href=\"https:\/\/www.themaven.net\/mishtalk\/economics\/global-pension-gap-expected-to-hit-400-trillion-us-leads-the-way-R1rSLO12IEePt5W_mIZC5Q\/\">Global Pension Gap Expected to Hit $400 Trillion: US Leads the Way<\/a><\/h3>\n<\/div>\n<div class=\"photo\">\n<div class=\"renderable jss390\">\n<figure class=\"image\">\n<div class=\"jss112 picture loaded\">\n<div class=\"observable\"><img decoding=\"async\" class=\"\" title=\"\" src=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FxBJu-a-rPE--qcNgCPHPGw\" srcset=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FxBJu-a-rPE--qcNgCPHPGw?w=662&amp;q=75&amp;h=392.03701255783216&amp;auto=format&amp;fit=crop 1x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FxBJu-a-rPE--qcNgCPHPGw?w=993&amp;q=75&amp;h=588&amp;auto=format&amp;fit=crop 1.5x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FxBJu-a-rPE--qcNgCPHPGw?w=1324&amp;q=75&amp;h=784&amp;auto=format&amp;fit=crop 2x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FxBJu-a-rPE--qcNgCPHPGw?w=1986&amp;q=75&amp;h=1176&amp;auto=format&amp;fit=crop 3x\" alt=\"\" width=\"662\" height=\"392.03701255783216\" \/><\/div>\n<\/div><figcaption><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"post-summary\">\n<div class=\"publish-info\">\n<div class=\"authorCard jss394\">\n<div class=\"jss112 false picture loaded\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<section class=\"deck\">The global pension gap of 8 nations is $70 trillion. The US alone is $38 trillion. By 2050 the total gap will hit $400T.<\/p>\n<\/section>\n<\/div>\n<\/header>\n<article class=\"story-body clearfix\">\n<div class=\"body\">\n<div class=\"markdown\">\n<div>\n<div>\n<p>The Visual Capitalist reports <a href=\"http:\/\/www.visualcapitalist.com\/pension-time-bomb-400-trillion-2050\/\" target=\"_blank\" rel=\"noopener\">The Pension Time Bomb: $400 Trillion by 2050<\/a>. The above image is a small section of a <a href=\"http:\/\/www.visualcapitalist.com\/wp-content\/uploads\/2018\/04\/pension-time-bomb.html\" target=\"_blank\" rel=\"noopener\">huge pension infographic<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"markdown\">\n<div>\n<div>\n<ul>\n<li>According to an analysis by the World Economic Forum (WEF), there was a combined retirement savings gap in excess of $70 trillion in 2015, spread between eight major economies: Canada, Australia, Netherlands, Japan, India, China, the United Kingdom, and the United States.<\/li>\n<li>The WEF says the deficit is growing by $28 billion every 24 hours \u2013 and if nothing is done to slow the growth rate, the deficit will reach $400 trillion by 2050, or about five times the size of the global economy today.<\/li>\n<li>In the United States, it is expected that the Social Security trust fund will run out by 2034. At that point, there will only be enough revenue coming in to pay out approximately 77% of benefits.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"observable\">\n<div id=\"in-message-2\" class=\"jss292 CONTENT_BREAK_DT ad-unit\"><\/div>\n<\/div>\n<div class=\"markdown\">\n<div>\n<div>\n<p><strong>Worse Than You Think<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"markdown\">\n<div>\n<div>\n<p>Lance Roberts at <em>Real Investment Advice<\/em> added to the report in his take <a href=\"https:\/\/realinvestmentadvice.com\/the-pension-crisis-is-worse-than-you-think\/\" target=\"_blank\" rel=\"noopener\">The Pension Crisis Is Worse Than You Think<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"markdown\">\n<div>\n<div>\n<p>What follows are excerpts of Roberts&#8217; excellent presentation, <em>without<\/em>blockquotes. His name will mark the end of his report.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"markdown\">\n<div>\n<div>\n<p><strong>Problem 1: Demographics<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"markdown\">\n<div>\n<div>\n<p>With pension funds already wrestling with largely underfunded liabilities, the shifting demographics are further complicating funding problems. One of the primary problems continues to be the decline in the ratio of workers per retiree as retirees are living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers.) However, this \u201csupport ratio\u201d is not only declining in the U.S. but also in much of the developed world. This is due to two demographic factors: increased life expectancy coupled with a fixed retirement age, and a decrease in the fertility rate.\u200b<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"renderable jss390\">\n<figure class=\"image\">\n<div class=\"jss112 picture loaded\">\n<div class=\"observable\"><img decoding=\"async\" class=\"\" title=\"\" src=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FSUsEKahB3EWHyoC91jQAiQ\" srcset=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FSUsEKahB3EWHyoC91jQAiQ?w=662&amp;q=75&amp;h=375.86700767263426&amp;auto=format&amp;fit=crop 1x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FSUsEKahB3EWHyoC91jQAiQ?w=993&amp;q=75&amp;h=564&amp;auto=format&amp;fit=crop 1.5x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FSUsEKahB3EWHyoC91jQAiQ?w=1324&amp;q=75&amp;h=752&amp;auto=format&amp;fit=crop 2x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FSUsEKahB3EWHyoC91jQAiQ?w=1986&amp;q=75&amp;h=1128&amp;auto=format&amp;fit=crop 3x\" alt=\"\" width=\"662\" height=\"375.86700767263426\" \/><\/div>\n<\/div><figcaption><\/figcaption><\/figure>\n<\/div>\n<div class=\"markdown\">\n<div>\n<div>\n<p>\u200b<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"renderable jss390\">\n<figure class=\"image\">\n<div class=\"jss112 picture loaded\">\n<div class=\"observable\"><img decoding=\"async\" class=\"\" title=\"\" src=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fm4r0oI6L_kCWci9IMxEdFw\" srcset=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fm4r0oI6L_kCWci9IMxEdFw?w=662&amp;q=75&amp;h=379.2531969309463&amp;auto=format&amp;fit=crop 1x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fm4r0oI6L_kCWci9IMxEdFw?w=993&amp;q=75&amp;h=569&amp;auto=format&amp;fit=crop 1.5x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fm4r0oI6L_kCWci9IMxEdFw?w=1324&amp;q=75&amp;h=759&amp;auto=format&amp;fit=crop 2x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fm4r0oI6L_kCWci9IMxEdFw?w=1986&amp;q=75&amp;h=1138&amp;auto=format&amp;fit=crop 3x\" alt=\"\" width=\"662\" height=\"379.2531969309463\" \/><\/div>\n<\/div><figcaption><\/figcaption><\/figure>\n<\/div>\n<div class=\"markdown\">\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>Global Pension Gap Expected to Hit $400 Trillion: US Leads the Way The global pension gap of 8 nations is $70 trillion. The US alone is $38 trillion. By 2050 the total gap will hit $400T. The Visual Capitalist reports The Pension Time Bomb: $400 Trillion by 2050. The above image is a small section [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2889,14648,13390,19951,19952,1816,827,12504],"class_list":["post-33791","post","type-post","status-publish","format-standard","hentry","category-economics","tag-demographics","tag-michael-shedlock","tag-mishtalk","tag-pension-shortfall","tag-pension-time-bomb","tag-pensions","tag-united-states","tag-visual-capitalist"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33791"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33791\/revisions"}],"predecessor-version":[{"id":33792,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33791\/revisions\/33792"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}