The study puts forward proposals for addressing the gap in financial savings. The research was conducted in 12 countries in 7 regions (Chile, China, Ireland, Japan, the Scandinavian countries, United Kingdom and the United States) and involved 7000 people over the age of 18 and 600 lead us in decision-making in the private and public sectors.

The main findings can be summarized as follows:

1. The retirement age disappeared. 68% of individuals expect to carry on working to a certain extent, or never retire.
2. 39% of those who participated in the survey stated that they were in good or excellent health, compatible with their current jobs, which is a significant factor, because working for more extensive periods requires a certain degree of physical aptitude.
3. People are not saving proactively. Although 81% of adults feel responsible for their retirement income, many of them do not take the necessary action to ensure it. According to the study, there are several factors that affect the savings and investment capacity (stress, access to and confidence in investments, age, gender and stage in life). One third of the population has currently made no financial calculation for old age, and the largest segment of the labor force, the millennials, switch jobs more often, which also has an impact on savings. Women face differences due to gender, in terms of salary inequality and labor continuity, and self-employed workers must solve things on their own.
4. People are expected to live between 15 and 20 years as retirees, but without better planning, their expenses well in many cases exceed their income. Personal savings will not suffice, and according to the research, only 26% of adults are satisfied with what they have saved for their retirement.
5. 79% of those interviewed said that their employer’s advice was trustworthy and independent in terms of planning, savings and investment, and for negotiating rates. This shows that there are opportunities for employers to play a leading role in overcoming existing investment obstacles.

The research results demand immediate action for resolving the existing gap between financial savings worldwide. According to the report, if action is taken now, we will have the opportunity of addressing the savings gap, and concurrently move towards present-day cultural norms. Since people live and work longer, we must forget the concept of retirement as we know it. To live well later on, one must act now, and the responsibility for acting is incumbent on all of us, including the private and public sectors and individuals.