Can the World Afford to Retire? How One Country is Addressing the Crisis

Around the world, market forces such as low interest rates, longer life expectancies, and job changes are challenging underfunded pension plans. This article discusses the need for a rethinking of financial security for aging populations. The Netherlands presents a potential solution by accepting more risk for younger generations. Economist Teresa Ghilarducci notes that countries like the US have delayed addressing these issues, while Dutch experts Adrian Rikjen and Stan Veuger suggest that a shift towards defined contributions could enhance the sustainability of pension systems.