⏩Fast Forward Aotearoa #10 Demographic challenges: fixing an inequitable, unsustainable retirement income system

A blueprint for the cockpit of 21st century government?

(Continuing to look at the future impacts of demographic change on Aotearoa’s society and economy…some pretty dry pension policy research and statistics this week, bear with me!)

Last time in ⏩Fast Forward Aotearoa #9 I looked at projected global macro population and demographic changes around the world and in Aotearoa, together with interpreting the economic effects — arguably already making themselves sharply felt — on “skilled” and “unskilled” labour shortages.

There are still several key implications which also need attention when building up a model of the global demographic future which is approaching:

• Increased health care costs

• Changing economic demand drivers

• Global economic restructuring

But this week I focus in on the impacts of an aging population on the retirement income system.

An inequitable, unsustainable retirement income system

As more people live longer in Aotearoa, what impact will this have on the country’s provision for retirement… and on those that will be forced to pay…