老龄化世界中的养老金和退休收入：2025年社会保障状况报告背景文件#5（英）2025

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report emphasizes the need for reforms in pension systems to ensure fiscal sustainability and adequate benefits in the context of global population aging [7] - It highlights the challenges of extending pension coverage to informal sector workers and stresses the importance of gender equity in pension provision [7] - The report concludes with recommendations for adapting pension systems to evolving economic and demographic realities, advocating for inclusive and sustainable solutions [7] Summary by Sections Aging Will Define the Evolution of Pensions and Social Insurance in the Coming Years - Population aging is a significant megatrend affecting economies and societies, necessitating adjustments in pension systems to manage the risks associated with a declining active population [13][14] - Countries with aging populations must adapt their pension systems to ensure adequate retirement income for an increasing number of retirees [31] Aging Will Affect All Regions of the World, Many at a Rapid Pace - By 2050, all regions except Sub-Saharan Africa are expected to have at least 15% of their populations aged 65 and over, indicating a global trend towards aging [25][26] - South Asia and the Middle East and North Africa will experience rapid aging, with significant implications for growth and productivity [26][27] Contributory and Social Pensions as Instruments for Income Protection in Retirement - The report analyzes government-mandated pension plans, including both contributory and non-contributory pension programs, to assess their effectiveness in providing income protection [33][34] - It utilizes data from the ASPIRE database to evaluate trends in pension expenditure and coverage across various countries [34] Pension Expenditures Are Significantly Affected by the Level of Aging - There is a positive correlation between the aging population and pension expenditure, with higher levels of aging leading to increased pension costs [46][48] - Regions like Europe and Central Asia exhibit the highest pension expenditures, averaging 7.4% of GDP, while Sub-Saharan Africa has the lowest at around 1% [53] Coverage of Pensions and Social Insurance - The extent of coverage in pension systems is largely determined by the level of formal employment and the demographic structure of the population [77] - High labor informality and unemployment rates limit the effectiveness of contributory pension programs, impacting overall coverage [77]