Citi Highlights Global Pension Crisis, Offers Solutions

Government pension liabilities for 20 nations around the world, including the U.S., Australia, Canada, Germany, Japan and the U.K., are $78 trillion, nearly double the $44 trillion published national debt for those countries, Citi said in a report issued March 15. Corporate pension plans are underfunded as well, said Citi, which recommended several steps for dealing with the growing crisis, including government transparency about pension underfunding, retirement age increases, “collective” defined contribution plans that share risks and benefits between plan sponsors and individuals, and incentives to boost private savings.

The report is available at https://www.citivelocity.com/citigps/ReportSeries.action?recordId=50.