The world’s population is rapidly getting older. Medical advances are prolonging life expectancy, while changing economic and social conditions are causing many to postpone having children until later in life. By 2050, the number of people aged 60 and over is predicted to total two billion, a huge rise compared with the 900 million registered in 2015.
For pension funds, this provides a huge opportunity, but one that will surely ramp up competition. In a market where the demand for pension products and services has never been higher, it will be up to individual companies to stand out from their competitors by embracing different ways of working and keeping track of new technologies.
Businesses that can make the most of the opportunities being created by shifting global demographics will flourish. The World Finance Pension Fund Awards 2020 shine a light on the organisations that are exploring ways to offer products and services that allow their customers to enjoy a fulfilling life long into old age.