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Larry Fink warns of "retirement crisis" due to inadequate savings

The Guardian — March 26, 2024, 04:00 PM UTC

Summary: BlackRock's CEO Larry Fink warns of a looming "retirement crisis" due to inadequate pension savings amidst longer life expectancies. By 2050, one in six people globally will be over 65, up from one in 11 in 2019. Fink emphasizes the urgency of building retirement savings, suggesting increased investments in financial markets and government-backed solutions. He advocates for raising retirement age and implementing schemes like Australia's successful superannuation guarantee.

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Timeline:

  1. [4.6]
    Larry Fink warns of US retirement crisis, advises market investments (New York Post )
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  3. [4.7]
    BlackRock CEO launches "LifePath Paycheck" for retirement planning (New York Post )
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  4. [6.1]
    Larry Fink addresses U.S. retirement crisis, calls for intervention (CNBC)
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