The Path to 2075 – The Positive Story of Global Aging

Goldman Sachs

Jan Hatzius

Research

21 Pages

Goldman Sachs reframes global aging as an opportunity rather than a crisis, noting that longevity gains and healthier aging are extending effective working lives. While the proportion of working-age adults in developed markets is declining, the share of the population employed has actually risen as people work longer. This adaptive response helps mitigate rising dependency ratios without reliance on pension reform.

Key Takeaways

Healthy longevity boost: A 70-year-old today has the cognitive capacity of a 53-year-old in 2000.
Extended working life: Median effective working life in developed markets rose by 12% (from 34 to 38 years) since 2000.
Falling dependency: Even with declining working-age ratios, developed-market dependency ratios have fallen thanks to higher employment share.
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