Pension systems worldwide face a demographic crisis as people live longer and birth rates fall, straining their ability to fund future payouts. Sebastien Betermier of the International Centre for Pension Management calls the problem a “ticking time bomb,” noting that some members have been retired for nearly half a century. The 2026 Marsh CFA Institute Global Pension Index report found that 43 of 55 covered systems have fertility rates below the replacement level of 2.1 children per woman, and 23 are below 1.5. The Old-Age and Survivors Insurance Trust Fund in the U.S. is projected to exhaust its reserves in Q4 2032, and according to a 2025 APRA report, about a third of Australian superannuation funds recorded negative natural cash flows over three years. Some funds are shifting toward riskier assets, including private equity and private credit, to meet their obligations.
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SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 759.85 |
| Change that session | -0.54% |
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