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Spanish Global
American International
Group's CEO, Robert Benmosche, believes that Europe's debt
crisis shows governments worldwide that they must require
citizens to work longer as life expectancies increase.
Such action will remove some of the costs from younger
workers.
World: Pension Plans Launch $20 Billion Infrastructure Fund (April 26, 2012) The Ontario Municipal Employees Retirement
System (OMERS), Japan’s Pension Fund Association, and a
consortium led by Mitsubishi have come together to form
the Global Strategic Investment Alliance (GSIA). GSIA will
invest in infrastructure in Europe and North America.
Infrastructure investment offers lower returns but it is
stable and underpinned by physical assets, making it
attractive for pension funds looking to match long-term
liabilities with long-term assets.
World : Elderly: IMF Concerned About Financial Risk Associated With Aging (April 17, 2012) (Article in French) The International Monetary
Fund says that longer life expectancy presents a financial
risk for the public accounts of developed countries. This
fact is not new, but the IMF acknowledges having
underestimated the problem and calls on governments to
take this demographic dimension into account and to
establish mechanisms to cope with it. According to them,
the average life span will increase by three years by 2050
and overall aging costs will increase by 50 percent.
World: Will Low Retirement Ages Last Forever? (February 23, 2012) Medicare covers the Dean
Ornish Program for Reversing Heart Disease, which instills
a plant-based, meatless diet, meditation, regular exercise
and group support. Patients can receive up to 72 one-hour
sessions on lifestyle changes. Additionally, hospitals can
now bill Medicare for their patient’s yoga sessions.
Preventative medicine costs are much less than operations
and medications.
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