pension time bomb

The Weightless World: Strategies for Managing the Digital Economy
by Diane Coyle
Published 29 Oct 1998

THE END OF WELFARE 92 97 100 108 109 118 121 122 Building New Jerusalem The growing cost The failures of welfare The Thatcher experiment Next steps Health and Education Welfare and inequality The limits of the twenty-first century welfare state Notes CHAPTER SEVEN. THE AGEING OF NATIONS 124 127 131 133 136 140 142 144 146 147 A pension time bomb? Caring for the old The other costs of ageing Conventional solutions Lateral solutions Virtual immigration A new framework Notes CHAPTER EIGHT. GLOBALISM AND GLOBALONEY 150 153 155 157 161 163 164 165 166 The power of the financial markets Markets go global Speculators as vigilantes More than sado-monetarism A sustainable future A Global Agenda Beyond currencies The biggest challenge Notes 168 171 177 180 182 186 189 190 191 CHAPTER NINE.

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What does it mean, then, that birth rates in some industrial countries have fallen well below replacement levels? That the over-60s will become the biggest group in the population? The easy although unpalatable part of the answer concerns what governments will have to stop paying for. The Weightless World 150 A pension time bomb? Eavesdrop on any gathering of pensioners, and you will find that they hate paying taxes. No matter what their income, they feel they have worked hard, paid their dues, and the time has come for them to get their reward. This is an attitude ingrained in our culture. It can be found in the Bible.

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Studies by the United Nations, the World Bank and the Organisation for Economic Co-operation and Development, covering the gamut of ideological starting points, have demonstrated that the public sector in most industrialised economies can not afford to meet its existing pension liabilities. Some researchers have dubbed it a ‘pensions time bomb’.1 The position differs widely between countries — partly because the demographic trends differ, partly because of differences in state pension schemes. Take the demographics first. The ageing of the population between now and 2030 will be most dramatic in Japan and some continental European economies — Germany, France, Italy, Austria and Benelux.

The Price of Life: In Search of What We're Worth and Who Decides
by Jenny Kleeman
Published 13 Mar 2024

In order for a country to sustain itself – ‘and assuming that immigrants like me do not exist’ – households need to be producing 2.1 children, he says, but the average in England is currently 1.5. With low birth rates and a resistance to immigration, there’s nothing to fill the deficit; there aren’t enough taxpayers, which means we are sitting on a pension time bomb. The countries with the biggest pension holes are increasingly funding IVF at the national level. ‘In Denmark, Israel, Japan, 10 per cent of all babies born are through IVF. In the rest of the civilized world, it’s less than 2 per cent. It’s a very clear message: if you make funding not the object, you will 5X the outcome,’ he declares, articulating the formula with relish.

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See murder homosexuality ref1, ref2, ref3, ref4 Hosomi, Major Akinori ref1 Human Tissue Authority ref1 human trafficking ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10 Idris, Aliyu Na ref1, ref2 Immigration and Border Control, UK ref1 In the Footsteps of Killers (Channel 4 true crime series) ref1 Innes, Bob (Guido Fanelli) ref1, ref2, ref3 Institute for Clinical and Economic Review, US ref1, ref2 Institute for Economics and Peace ref1 insurance ref1, ref2, ref3, ref4 body parts ref1 health ref1, ref2, ref3 IVF ref1, ref2, ref3 kidnap and ransom (K&R) ref1, ref2, ref3, ref4, ref5 life see life insurance origins of ref1 QALY and ref1 terrorism and ref1, ref2, ref3 integrated care boards (ICBs) ref1 International Labour Organization (ILO) ref1, ref2 Interpol ref1 IRA ref1 Iran ref1, ref2, ref3, ref4 Iraq ref1, ref2, ref3, ref4, ref5 ISIS ref1, ref2, ref3 Israel ref1, ref2, ref3, ref4 ITN ref1 IVF (in-vitro fertilisation) ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10 Jalamasco, Mimi ref1 job creation ref1, ref2, ref3 Johnson, Boris ref1, ref2 Jones, Holly ref1 JP-5/JP-8 military jet fuel ref1 JustGiving ref1, ref2, ref3 Kadiye, Dahir Abdullahi ref1 Karonovski, Holden ref1 Kensal Green Boys ref1 kidnap and ransom (K&R) insurance ref1, ref2, ref3, ref4 kidneys ref1, ref2, ref3 Klis, Alex ref1 Klis, Angelika ref1 Klis, Marcin ref1 Klis, Patrycia ref1 Klum, Heidi ref1, ref2 Knight, Helen ref1, ref2, ref3 Koch, Shirley ref1 Konig, Tom ref1, ref2 Krummaker, Dr Simone ref1 LaMarca, Joe ref1, ref2, ref3, ref4 Larner, Roy (‘Lion of London Bridge’) ref1, ref2, ref3, ref4 Lause, Tara ref1, ref2, ref3 lawsuits biological parenthood and ref1, ref2 terrorism and ref1 lesbian parenthood ref1, ref2, ref3 Levine, Mike ref1 Libmeldy ref1, ref2 life insurance ref1, ref2, ref3 average value of an insured life ref1, ref2, ref3 fake death, type of person prepared to ref1 faking death overseas ref1 financial checks and ref1, ref2 human life valuation process ref1 John Darwin, aka Canoe Man and ref1 investigating claims ref1 murder for ref1 risk of death calculated ref1 subsidizing criminal activity with premiums ref1 suicides as accidental deaths ref1 UK, average claim paid in ref1 Vorotinov family claim ref1 Lloyds of London ref1, ref2 Lockheed Martin ref1, ref1, ref2 Aeronautics facility, Fort Worth (Air Force Plant Number Four) ref1, ref1 F-16 ref1 F-35 Lightning II and see F-35 Lightning II Skunk Works ref1 London Air Ambulance service ref1, ref2 London Ambulance Service ref1 London Anatomy Office ref1 London Bridge terror attack (2017) ref1, ref1, ref1, ref2 London Women’s Clinic ref1, ref2 Lopez, Jennifer (J-Lo) ref1 Luong, Nguyen Dinh ref1 Lynn Rival ref1, ref2 MacAskill, Will ref1, ref2, ref3, ref4, ref5 Mafia ref1, ref2, ref3 Maggipinto, Nicholas ref1, ref2 Maguire, Patrick ref1 Manchester Arena terror attack (2017) ref1, ref2, ref3, ref4 Mandalay Bay hotel, Las Vegas ref1 Mankey, Matthew ref1 Marine Corps, US ref1, ref2, ref3, ref4 Marmot, Sir Michael ref1, ref2 Marques, Wayne ref1, ref2 McCormick, Kevin ref1 McErlean, Anthony ref1 McMullan, James ref1, ref2 Medicare programme, US ref1 Medicines and Healthcare products Regulatory Agency (MHRA) ref1 Melbourne, Covid-19 lockdown in ref1 Men Having Babies ref1, ref2, ref3, ref4, ref5 metachromatic leukodystrophy ref1, ref2 Metropolitan Police ref1, ref2, ref3 Mexico homicide cost in ref1 kidnapping in ref1, ref2 Mexico Peace Index ref1 MGM Resorts International ref1 Ministry of Defence ref1, ref2 Ministry of Justice ref1, ref2 Mitchell Institute ref1, ref2 Mondelez ref1, ref2 Morariu, Florin ref1 Mordel, Aleksander ref1, ref2 Mordel, Edyta ref1, ref2 moremarrowdonors.org ref1 Moskowitz, Dustin ref1, ref2, ref3, ref4 Muir-Wood, Robert ref1, ref2, ref3 murder, average ref1 America, average murder costs in ref1 Category A murders ref1 Category B murders ref1 Category C murders ref1 cost in England and Wales ref1, ref2, ref3, ref4 criminal justice system, costs incurred by average murder to ref1 Mexico, average murder costs in ref1 police, cost to ref1 prison, price of life in ref1 race and cost of ref1 Shaquan Sammy-Plummer and see Sammy-Plummer, Shaquan UK Home Office calculate cost of ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 victim support/grief counselling and ref1, ref2 Mutual of Omaha ref1, ref2, ref3, ref4, ref5 My, Pham Thi Tra ref1, ref2 nail bars ref1, ref1, ref2 Narasimhan, Vas ref1 National Domestic Abuse Helpline ref1 National Funeral Directors Association ref1, ref2 National Health Service (NHS) ref1, ref2, ref3, ref4, ref5 Covid-19 and ref1, ref2, ref3, ref4 gene therapies and ref1, ref2, ref3, ref4, ref5 see also individual drug name IVF treatment and ref1, ref2, ref3, ref4, ref5 Medicines and Healthcare Regulatory Agency (MHRA) ref1 National Institute for Health and Clinical Excellence (NICE) ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11 see also National Institute for Health and Clinical Excellence (NICE) NHS England ref1, ref2, ref3, ref4, ref5 QALY (quality-adjusted life year) and ref1, ref2, ref3, ref4 Spinal Muscular Atrophy (SMA) and ref1, ref2, ref3, ref4 National Institute for Health and Clinical Excellence (NICE) ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11 appraisal process ref1 origin of ref1 QALY (quality-adjusted life year) and ref1, ref2, ref3, ref4 Spinal Muscular Atrophy (SMA) and ref1, ref2, ref3, ref4 Spinraza and ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 Zolgensma and ref1, ref2, ref3, ref4, ref5, ref6 National Offender Management Service ref1 National Referral Mechanism ref1, ref2, ref3, ref4 NATO ref1 naturally replenishable tissue, trade in ref1 New Labour ref1 New York City ref1, ref1, ref2, ref3, ref4, ref5, ref6, ref7 9/11 ref1 Norkin, Major General Amikam ref1 Northern Ireland ref1 Nottingham Repository ref1 Novartis ref1, ref2, ref3 Nzeh, Christopher ‘CK’ ref1, ref2 Obama, Barack ref1, ref2 Office for National Statistics ref1, ref2, ref3, ref4, ref5 Onasemnogene abeparvovec ref1 OnlineHairAffair ref1 onlythebreast.com ref1, ref2 Open Philanthropy Project ref1, ref2, ref3 Operation Inherent Resolve (OIR) coalition ref1, ref2 Ord, Toby ref1 organ trade ref1, ref2, ref3, ref4 Orlando nightclub shooting (2016) ref1 Orsini, Giancarlo ref1, ref2 Oxford University ref1, ref2 Nuffield Department of Clinical Neurosciences ref1 Paddock, Stephen ref1 parenthood, biological ref1, ref2, ref3, ref4 adoption and ref1, ref2 birth rates and ref1 blastocyst and ref1 City of New York and ref1 Corey Briskin/Nicholas Maggipinto and ref1 creating a life without fertility treatment, cost of ref1 egg donor agencies ref1 egg donor compensation ref1, ref2 fertility clinics ref1, ref2, ref3, ref4 fertility, Criminal Injuries Compensation Scheme compensation for loss of ref1 fertility equality ref1, ref2 fertility tourism ref1, ref2 financial infertility ref1 IVF ref1, ref2, ref3, ref4 gay couples and ref1 genetic testing and ref1 HFEA and ref1 integrated care boards (ICBs) ref1 intra-partner egg donation ref1 lesbian couples ref1 NHS and ref1, ref2, ref3, ref4, ref5 pension time bomb and ref1 psychiatric evaluations ref1 right to reproduce ref1 shared motherhood ref1, ref2 sperm counts and ref1, ref2, ref3 sperm donors ref1, ref2, ref3 surrogacy and ref1, ref2, ref3, ref4, ref5 turkey baster technique ref1 UK, cost to have a child through IVF and surrogacy in ref1 US, cost to have a child through IVF and surrogacy in ref1 US Equal Employment Opportunity Commission and ref1 wrongful birth ref1, ref2 Patel, Priti ref1, ref2 Pelliccia, Gennaro ref1, ref2 pensions ref1 Pentagon ref1, ref2, ref3, ref4 philanthropy ref1, ref2, ref3, ref4, ref5, ref6 Africa and ref1, ref2, ref3, ref4, ref5, ref6 age to save a person’s life, optimum ref1, ref2, ref3 America’s top philanthropists, power of ref1 Centre for Effective Altruism and ref1, ref2 ‘earning to give’ ref1 effective altruism (EA) and ref1, ref2, ref3, ref4, ref5, ref6 GiveWell and ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 Giving What We Can and ref1 Open Philanthropy Project and ref1, ref2, ref3, ref4 price of life, GiveWell estimates ref1 San Francisco and ref1, ref1, ref2 San Francisco homelessness crisis and ref1, ref1, ref2, ref3 Philippines ref1, ref2, ref3, ref4, ref5, ref6, ref7 Phong, Nguyen Thi ref1 Pigeard, Alexandre ref1, ref2 Piscopo, Jamie ref1, ref2 Pittsburgh synagogue shooting (2018) ref1, ref2 Plummer, Jessica ref1, ref2, ref3, ref4 Plymouth mass shooting (2021) ref1 Pratt & Whitney ref1 Price, Richard ref1 prison, cost of ref1, ref2, ref3 Probus ref1 psychiatric evaluations in fertility treatment ref1 PTSD ref1, ref2 Pugliese, Cinzia ref1 Pulse nightclub shooting, Orlando (2016) ref1 QALY (quality-adjusted life year) ref1, ref2, ref3, ref4 Qanus Island, Iraq ref1 quantification ref1 quantitative data, overconfidence in ref1 racism ref1, ref2 Rahman, Dr Mohammed ref1 RAND Corporation ref1, ref2 ransom demand, average ref1, ref2 average global demand (2021) ($368,901) ref1 Chandler kidnapping ref1, ref2, ref3 Chandler hostage negotiation ref1, ref2, ref3, ref4 Chandler release ref1 Foreign Office and ref1, ref2, ref3 highest recorded single demand (2021) ref1 hotspots, kidnapping ref1, ref2 John Paul Getty III kidnapping ref1 kidnap and ransom (K&R) insurance ref1, ref2, ref3, ref4, ref5 kidnap rates ref1 lasting impact of kidnapping ref1 negotiations, average length of ref1 negotiators, ‘expert’ ref1, ref2, ref3, ref4, ref5 prosecution of kidnappers ref1, ref2 rape ref1 Rathburn, Arthur ref1, ref2 Rawlins, Sir Michael D. ref1, ref2 Redouane, Rachid ref1, ref2, ref3, ref4 rentahitman.com ref1, ref2 Research For Life ref1, ref2, ref3, ref4, ref5.

The New Economics: A Bigger Picture
by David Boyle and Andrew Simms
Published 14 Jun 2009

The answer is that they nationalized the football club’s sponsor, the insurance giant AIG. Add to this crisis the increasing failure of the great bureaucracies of state, struggling under the weight of their own complexity, the rise of externalities capable of crushing the basic tasks of welfare, health and education, the pensions time bomb and other crises outlined in Chapter 1, and you have the background to the rise of the new economics – and a handful of reasons why it will become increasingly prominent. The emerging crisis is, in its own way, speeding the adoption of new economics solutions. But the crisis that is driving change most immediately apart from that is probably about our energy and climate.

The Precariat: The New Dangerous Class
by Guy Standing
Published 27 Feb 2011

By 2004, in OECD countries, only 60 per cent of those aged 50–64 were in jobs, compared with 76 per cent of those aged 24–49. Meanwhile, in rich countries, young women stopped having babies; the fertility rate fell to below the reproduction rate. Suddenly, governments became alarmed at the ‘pension time bomb’, as the number approaching pension age exceeded the number of young workers entering the labour force who could contribute to pension schemes. A crisis was building up. The slow death of pensions The era of pensions was a wonder of the modern world, even though it lasted for only a tiny fraction of history.

No Ordinary Disruption: The Four Global Forces Breaking All the Trends
by Richard Dobbs and James Manyika
Published 12 May 2015

That’s a start, but it’s not nearly sufficient to keep pace with the demographic changes the world is seeing. A recent analysis of forty-three mostly developed countries found that between 1965 and 2005 the average legal retirement age rose by less than six months.44 In the same period, male life expectancy rose by nine years. In graying Europe, Danish legislation recognized the impending pension time bomb early, and the country decided to index the pension age to life expectancy and place restrictions on early retirement. As a result, Denmark’s population of people aged fifty-five to sixty-four has a higher labor participation rate (58 percent) than the average EU country (less than 50 percent) and will have the highest retirement age (sixty-nine years) among all OECD countries by 2050.45 In response to the demographic tide, Japan’s government introduced compulsory long-term care insurance contributions by citizens over age forty in the early 2000s.46 Countries—particularly countries with underdeveloped financial institutions or specific risk exposures to global flows—use the regulatory approach to manage their vulnerability to global participation.

Expected Returns: An Investor's Guide to Harvesting Market Rewards
by Antti Ilmanen
Published 4 Apr 2011

In fact, if pension liabilities are ironclad, they should be discounted using the Treasury rate (assuming we still assign riskless status to Treasuries despite the fiscal troubles). A lower discount rate would push many overfunded pension plans to underfunded status—arguably making them face the reality and, more generally, forcing society to deal with the pension time bomb. Source notes. On investment lessons, see Swensen (2009), Ang–Goetzmann–Schaefer (2009), Asness–Kabiller–Mendelson (2010), Drobny (2010), and Leibowitz–Bova–Hammond (2010). Appendix A World wealth This appendix reviews evidence on the relative sizes of various parts of world wealth.