GENEVA (ILO News) - The International Labour Office (ILO) announces the publication of a major global study on pension funds, which finds, inter alia, that as much as 90 per cent of the world's workforce is unlikely to enjoy any sort of old age or retirement benefit due inadequate or nonexistent pension provisions and that pension funds in even the wealthiest countries are facing increasing financial shortfalls as populations age and the cost of retirement benefits increases.
The 800-page book, which examines the state of pension funds in all regions of the world, is published this month and will be presented to the public at a media launch to be held on 27 April at 11:00 hours at:
ILO Office
Millbank Tower, 5
th floor
21-24 Millbank
GB-London SW1P 4QP
United Kingdom
Social Security Pensions: Development and Reform
Mr. Gillion is expected to argue that the weakness of pension funds in developing countries risks becoming a major problem as traditional family structures which provided for the elderly yield to more modern methods of accommodating the elderly and infirm.
The ILO report contains a large amount of analysis, data and recommendations and is published at a time when many countries are contemplating, planning or implementing large-scale expansions of their schemes of retirement protection. It addresses major issues, such as public versus private pension programmes, the role of provident funds and the capacity of the stock market to ensure funding for future generations of retirees.
For more information, please contact ILO Bureau of public information (PRESSE) in Geneva at (+41 22) 799 7912 or Nick Evans in London at (+44 171) 828 6401.
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