PARIS
The low global economic growth is adding to the problems the pension system of an aging population is facing, the Organization for Economic Co-operation and Development, or OECD, said in a report on Monday.
“Low growth, low interest rates and low returns on investment linked to the slow global economy are now compounding the problems of population ageing for both public and private pension systems,” the organization said in press release.
The organization pointed out that most countries had introduced reforms such as raising taxes on pension income and pension contributions as well as increasing the statutory age of retirement.
“It’s encouraging to see the progress made in recent years to make pension systems more sustainable and adequate,” said OECD Secretary-General Angel Gurria. “But the ongoing rapid demographic shift and the slowdown in the global economy highlight the need for continuing reforms. We must communicate better the message that working longer and contributing more is the only way to get a decent income in retirement.”
www.aa.com.tr/en
