UK told to prepare for workforce of 80-year-olds

The Geneva-based organisation predicted the current savings gap of US$8tn would quadruple to US$33tn (£25tn) by 2050 if urgent action was not taken to tackle the challenges of an ageing population, the FT reported. In its report the WEF identified the UK as one of several countries facing a "pensions time-bomb". "The anticipated increase in longevity and resulting ageing populations is the financial equivalent of climate change," head of financial and infrastructure systems Michael Drexler said. "We must address it now or accept that its adverse consequences will haunt future gener...