Larry Fink, the head of BlackRock, the world’s largest asset management firm, has warned that demographics will inevitably strain pension systems and that longer lives are projected to force workers to retire later.
In his annual letter to chief executives and investors released on Tuesday, the billionaire investor called on governments to take urgent steps to tackle the “retirement crisis” by helping people save more for when they get old. Fink expressed concern that not enough is being done to ensure people have enough money to safeguard their retirement.