In historic first, G20 weighs ageing as global risk

In historic first, G20 weighs ageing as global risk
"Ballooning healthcare costs, labour shortages and financial services for the elderly: for the first time Sunday, the world's top policymakers are tackling economic issues relating to ageing and shrinking birthrates.
G20 finance ministers and central bank chiefs meeting in Japan -- where a rapidly ageing population is a major domestic problem -- have been warned to address the issue before it is too late.
...But many economies have failed to update their pension and employment systems to adjust to the changing demographics, experts warn.
This has resulted in fiscal and debt risks for whole countries, as well as individuals.
...It has left many elderly fearing cuts to their benefits, while young people worrying that a pension may not exist by the time they retire.
Meanwhile, a shrinking labour force means Japanese firms are unable to fill job openings, with the national unemployment rate standing at 2.4 percent.
..."What you don't want is to have certainty that you don't have enough money in order to cover the pension," he said."
Read on.