This is a great graphic with a very serious point ...

Governments continue to write pension promises that they are going to struggle to keep - the WEF estimates the gap at $70 trillion today and that it will continue to grow unless something changes ... I suspect the change will be partly about everyone working longer and that in the future we will have to accept the indexation of retirement age to reflect average life expectancy ... I also expect a bunch of legacy schemes will need to be bailed out, nationalised or guaranteed (a phenomenon that has been very visible in the UK over the last 10 years as many corporate plans have struggled to fend off insolvency as they have had to fund plan liability guarantees) ... some people are even suggesting that any effort would require central bank QE given the scale of the need...