In 2024, 50 percent of U.S. citizens who were 60 years old or older had some type of retirement savings. This information can be interpreted by the number of people in that age group without any retirement savings, which amounted to 50 percent. The share of individuals with retirement savings was lower in the younger age groups, and among adults from 18 to 29 years old, just ** had retirement savings.

The statistic shows the share of Americans aged between 50 and 64 with no retirement savings in 2010. The categories are divided into income quartiles ranging from 0 to 10,800 U.S. dollars in the bottom 25th percentile to more than 52,201 U.S. dollars in the 75-100th percentile. The percentage of Americans in the bottom 25th percentile was equal to 77 percent.

Saving for retirement

Without a shadow of a doubt, the recession has had an impact on retirement plans and how people save. It is clear to see just how alarming the situation is when one takes into account the sheer amount of Americans aged between 50 and 64 who have no retirement savings. And even for those who have saved and regularly paid into retirement savings the outlook is less than secure. Adding to the worry are the increasing claims being made by industry experts that the savings accrued by middle-class seniors will have nowhere near the required level of sufficiency to support current standards of living in to retirement.

It is important to start thinking and planning in order to be able to enjoy an early retirement. Those who start to save later for retirement, and forego early saving practices will realize that playing catch-up and saving much more intensively later in life is extremely punishing. Everyone wants different things in retirement and first of all it is important to decide what sort of retirement lifestyle is desirable for the individual. Knowing what the desired lifestyle is will help to determine how much money will need to be saved.

Roughly ** percent of Americans had household retirement savings reaching ******* U.S. dollars or more by the end of 2023. Meanwhile, eight percent of respondents stated to not have any household retirement savings at all. The share of people with retirement savings ranging from 100,000 to ******* U.S. dollars has decreased between 2020 and 2023.

The share of people in the United Kingdom (UK) without retirement plans varied significantly between different groups. While ** percent of the highest-income citizens had no retirement plan, those figures increased to ** percent for low-income individuals. Similarly, gender, being a single parent, or having a disability were also relevant factors.

In 2022, ** percent of Hispanic respondents in the United States reported that they had some retirements savings, making them the group with the lowest rate. In contrast, ** percent of white people in the U.S. had any retirement savings, with a significant amount of them saying that their retirement savings were on track. Roughly ** percent of black people said that their savings were on track.

In 2023, ** percent of the Polish population did not save for retirement beyond current contributions, while ** percent did so.

The Survey of Consumer Finances (SCF) is normally a triennial cross-sectional survey of U.S. families. The survey data include information on families' balance sheets, pensions, income, and demographic characteristics.

The global pension finance market is experiencing robust growth, driven by factors such as an aging population, increasing awareness of retirement planning, and favorable government regulations promoting pension schemes. The market size in 2025 is estimated at $5 trillion, exhibiting a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This growth is fueled by the rising adoption of various pension plans, including basic retirement insurance, enterprise supplementary pension insurance, and personal savings plans. The increasing number of working professionals globally is significantly contributing to the market expansion, especially in developing economies. Moreover, technological advancements in financial management and the availability of online pension platforms are simplifying the process and expanding accessibility, making it a more attractive investment option for individuals and organizations alike. This expansion is not uniform across all segments. The enterprise supplementary pension insurance segment is projected to experience the fastest growth due to corporate initiatives to improve employee benefits and attract top talent. Geographically, North America and Europe currently hold significant market share, but the Asia-Pacific region is anticipated to witness substantial growth in the coming years, driven by rapid economic development and a growing middle class in countries like China and India. However, factors such as economic instability in certain regions, regulatory challenges, and market volatility could act as potential restraints on market growth. The market's diverse segments and regional variations present opportunities for targeted investment strategies and specialized product offerings. Companies such as UnitedHealthcare, Allianz, and MetLife are well-positioned to capitalize on this growth through strategic acquisitions, product diversification, and global expansion.

Pension funds, composed of defined benefit (DB) and defined contribution (DC) plans, have been the primary means for meeting the retirement requirements of an aging global population. Industry revenue consists of contributions, investment income, net sales of securities and more. Positive investment returns from equities have driven the growth of revenue despite volatility in financial markets. In addition, the significant hike in interest rates in the latter part of the period increased interest income from fixed-income securities, supporting revenue growth. The recent rate cuts in many countries around the world in 2024 will shift funds back into equities and out of fixed-income assets such as bonds. Global pension funds revenue has been increasing at a CAGR of 0.5% to $4,297.0 billion over the past five years, including an expected increase of 2.8% in 2024 alone. However, industry profit has declined over the past five years. Employers are increasingly offering DC plans instead of DB plans, gradually shifting the responsibility of retirement benefits to employees and requiring them to contribute to their retirement accounts to ultimately assume some of the risks. To promote contributions, governments are using tax incentives to encourage individuals to save for retirement, and in some cases, are moving to compulsory systems. Overall, there has been more contributions as a result of this trend, in tandem with growing global per capita income, which has enabled employees to allocate more into their plans. More assets are expected to be allocated toward equities as interest rates are anticipated to be cut further as inflationary pressures ease, which will likely increase revenue volatility. The shift toward DC plans will continue and elevate global contributions, fueling revenue growth. Global pension funds revenue is expected to grow at a CAGR of 3.1% to $5,003.1 billion over the five years to 2029.

In 2019, almost half of the Baby Boomers in the United States were not saving for retirement. Approximately ** percent of the Americans aged between 54 and 72 years old were saving between *** and *** percent of their monthly income. The source did not indicate what percentage of these respondents were already retired.

Micro-Pension FinTech Platform Market Outlook

According to our latest research, the global Micro-Pension FinTech Platform market size reached USD 1.42 billion in 2024, marking a significant milestone for this rapidly evolving sector. With a robust compound annual growth rate (CAGR) of 13.7% projected from 2025 to 2033, the market is expected to expand to USD 4.19 billion by 2033. This impressive growth trajectory is primarily driven by the increasing adoption of digital financial solutions, rising demand for inclusive retirement planning, and the growing penetration of mobile and cloud-based platforms across emerging economies. As per our latest research, the sector’s expansion is being accelerated by regulatory support, technological innovation, and the urgent need to address the pension gap for underserved populations worldwide.

One of the key growth factors for the Micro-Pension FinTech Platform market is the rising awareness and necessity for retirement planning among the unorganized and informal workforce. Traditionally, pension schemes have been out of reach for low-income individuals and those employed in informal sectors. However, the advent of micro-pension solutions powered by fintech platforms has democratized access to retirement savings, enabling millions to participate in structured pension plans. Governments and international organizations are increasingly promoting financial inclusion initiatives, which has fueled the adoption of these platforms. Moreover, the integration of user-friendly interfaces, real-time analytics, and automated advisory services has enhanced customer engagement, fostering trust and sustained participation in micro-pension schemes. The ability to make small, flexible contributions via mobile wallets and digital payment systems has further removed barriers, making pension savings accessible to a broader demographic.

Another significant growth driver is the technological advancements and innovations within the fintech ecosystem. The proliferation of cloud computing, artificial intelligence, and blockchain technology has enabled micro-pension platforms to offer highly secure, scalable, and customizable solutions. These technologies facilitate seamless onboarding, transparent fund management, and efficient pension administration, reducing operational costs for providers and improving the overall user experience. Additionally, the integration of APIs with banking and insurance partners has enabled cross-platform interoperability, expanding the reach and utility of micro-pension products. As fintech startups and established financial institutions continue to invest in R&D, the market is witnessing a surge in new product launches and strategic collaborations, further propelling growth.

The market is also benefiting from favorable regulatory frameworks and public-private partnerships aimed at bridging the pension gap. In regions like Asia Pacific and Africa, where the informal workforce constitutes a substantial portion of the population, governments are actively collaborating with fintech firms to develop inclusive pension models. Regulatory sandboxes and supportive policies have encouraged innovation while safeguarding consumer interests. Moreover, international organizations such as the World Bank and the International Labour Organization are providing technical and financial assistance to scale micro-pension initiatives. This regulatory momentum, combined with growing investor interest, is creating a conducive environment for market expansion.

From a regional perspective, Asia Pacific is emerging as the fastest-growing market, driven by large populations, rapid digitalization, and proactive government initiatives. Countries like India, Indonesia, and the Philippines are leading the way with innovative micro-pension schemes targeting informal sector workers. North America and Europe, while mature in terms of pension infrastructure, are witnessing increased adoption of fintech solutions for wealth management and retirement planning, particularly among SMEs and gig economy workers. Latin America and the Middle East & Africa are also showing promising growth, supported by rising smartphone penetration and financial literacy campaigns. Each region presents unique challenges and opportunities, but the overarching trend is clear: micro-pension fintech platforms are poised to play a transformative role in the global retirement landscape.

Retirement Home Rentals and Sales Market Outlook

The global market size for retirement home rentals and sales was valued at approximately $250 billion in 2023 and is projected to reach around $420 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 6.2%. The growing aging population and increasing demand for specialized senior living facilities are major factors driving the growth of this market.

A significant growth factor for the retirement home rentals and sales market is the aging global population. As life expectancy continues to rise, a larger portion of the population is entering retirement age, necessitating a greater number of senior living options. Countries with advanced healthcare systems and higher standards of living are particularly witnessing a surge in the senior population, which drives the demand for retirement communities that can provide not only accommodation but also necessary healthcare and social support services. Furthermore, the preference for specialized care communities such as assisted living and memory care facilities is becoming more pronounced, catering to the distinct needs of elderly individuals with different levels of independence and health conditions.

Another significant growth driver is the increasing wealth and disposable income among seniors. Many individuals reaching retirement age today have amassed considerable savings and assets over their working lives, allowing them to afford higher-quality living arrangements during their retirement years. This demographic shift is creating a robust market for premium retirement home options, which offer a range of amenities including healthcare services, recreational activities, and social engagement opportunities. Moreover, the trend of retirees looking to downsize from larger family homes to more manageable living spaces is contributing to the marketÂ’s growth. This transition often leads to increased demand for both rental and sales properties within retirement communities.

The advent of advanced healthcare technologies and improved healthcare services in retirement homes is also a major growth catalyst. Modern retirement communities are increasingly integrating state-of-the-art medical facilities and services to cater to the health needs of their residents. The availability of such comprehensive healthcare solutions within retirement homes makes them an attractive option for seniors who require regular medical attention but prefer to maintain a degree of independence. This integration of healthcare within living spaces not only enhances the quality of life for residents but also positions retirement homes as a viable alternative to traditional nursing homes and hospitals.

Regionally, North America dominates the retirement home rentals and sales market, driven by a significant aging population and well-developed healthcare infrastructure. Europe follows closely, with countries like Germany and the UK experiencing substantial growth in demand for senior living facilities. The Asia Pacific region is poised for rapid growth, with developing countries such as China and India witnessing increasing investments in retirement housing due to their large aging populations and improving economic conditions. The regional market dynamics are influenced by varying factors such as cultural attitudes towards aging, economic development, and the availability of healthcare services.

Assisted Living Facilities have become an integral part of the senior living landscape, offering a unique blend of independence and support for older adults. These facilities are designed to provide personalized care tailored to the needs of each resident, ensuring that they receive the right level of assistance with daily activities such as bathing, dressing, and medication management. The growing popularity of Assisted Living Facilities can be attributed to their ability to offer a home-like environment where seniors can maintain their dignity and autonomy while having access to necessary healthcare services. Families often choose these facilities for their loved ones because they provide a safe and nurturing environment that bridges the gap between independent living and more intensive nursing care. As the demand for specialized senior care continues to rise, Assisted Living Facilities are evolving to include more amenities and services, making them an attractive option for seniors seeking a balanced lifestyle.

Type Analysis

The retirement home rentals and sales mar

In 2023, the Dutch government announced reforms of the Dutch pension system. Under the previous system, the working population contributed to one large fund that pensioners would receive money from. Under the new proposal, individuals would save for themselves. This is expected to create a "pension-hole", mainly for those aged 40 to 55 years old, who at the beginning of their career contributed to the pensions of people retiring at the time, but when they themselves reach retirement-age, will not have had young workers to pay for them. The government has agreed to compensate this group of people, whose pension-hole is estimated to total ** billion euros. However, a large portion of respondents did not understand what the new pension law means for them, as around ** percent of those aged 18 to 34 years and 35 to 54 years did not seem to understand the new proposed pension system.

In 2022, approximately 39 percent of children from eight to fourteen years old owned a savings account in the United States. One of the least popular financial instruments for children to own were cryptocurrencies and digital assets at around five percent. Meanwhile, 29 percent of children had piggy banks. When focusing on their parents, 401(k) plans were the most popular type of retirement savings accounts in the U.S.

Annuities Market Outlook

According to our latest research, the annuities market size reached a value of USD 3.1 trillion globally in 2024, with a robust compound annual growth rate (CAGR) of 5.8% observed over recent years. The market is projected to expand further, reaching approximately USD 5.2 trillion by 2033, as per the calculated CAGR. This growth is driven by increasing life expectancy, greater awareness of retirement planning, and a rising demand for stable income streams among aging populations worldwide. The annuities market continues to evolve, offering diverse products tailored to the changing needs of consumers and institutional investors, while regulatory reforms and technological advancements further stimulate market development.

A key growth factor in the global annuities market is the demographic shift towards an older population, particularly in developed regions. As life expectancy rises and birth rates decline, a larger proportion of the population is entering retirement age, creating unprecedented demand for reliable retirement income solutions. Annuities, especially products like deferred and immediate annuities, are increasingly seen as essential tools for mitigating longevity risk—the risk of outliving one’s savings. Governments and financial institutions are responding by promoting annuity products as part of comprehensive retirement planning, which is further fueling market expansion. Additionally, the growing middle class in emerging economies is starting to prioritize long-term financial security, contributing to increased adoption of annuities in these regions.

Another significant driver is the evolution of annuity product offerings and distribution channels. Financial service providers are innovating to meet the diverse needs of consumers, introducing variable, indexed, and hybrid annuities that blend growth potential with principal protection. The rise of digital platforms and fintech solutions has also simplified the annuity purchasing process, making it more accessible and transparent for consumers. Enhanced product customization, improved customer education, and the integration of digital advisory tools are enabling insurers and distributors to reach a broader audience. This shift towards digitalization not only reduces distribution costs but also enhances customer engagement and satisfaction, pushing the annuities market towards sustained growth.

Macroeconomic factors such as interest rate trends and market volatility have also played a pivotal role in shaping the annuities market landscape. In a low-interest-rate environment, traditional fixed-income options become less attractive, prompting investors to seek alternatives like annuities that offer guaranteed income and potential for capital appreciation. At the same time, regulatory changes—such as fiduciary standards and solvency requirements—are enhancing consumer protection and encouraging product innovation. Insurers are leveraging advanced risk management practices and data analytics to design annuities that balance risk and reward more effectively. These factors collectively contribute to the market’s resilience and its ability to adapt to changing economic conditions.

From a regional perspective, North America continues to dominate the global annuities market, accounting for the largest share in 2024. This is followed by Europe, where aging populations and supportive regulatory frameworks drive robust demand. The Asia Pacific region is emerging as a high-growth market due to rising disposable incomes, increasing awareness of retirement planning, and favorable government initiatives. Latin America and the Middle East & Africa are also witnessing steady growth, although their market shares remain relatively smaller due to lower financial literacy and limited product penetration. Each region presents unique opportunities and challenges, shaping the competitive dynamics and strategic priorities of market participants.

Product Type Analysis

The annuities market is segmented by product type into fixed annuities, variable annuities, indexed annuities, immediate annuities, deferred annuities, and others. Fixed annuities remain the cornerstone of the market, favored for their guaranteed returns and principal protection. They are particularly attractive to risk-averse investors and retirees seeking stable, predictable income streams. Fixed annuities benefit from regulatory support and consumer trust, making th

In 2019, ** percent of the Millennials in the United States were not saving for retirement. Approximately ** percent of the Americans aged between 23 and 37 years old were saving between one and ten percent of their monthly income.

According to the results of a survey conducted in the United States 2021, turning a certain age was the main trigger for starting to save for retirement. The survey, conducted among 1,000 working and fully retired Americans, revealed that many respondents started saving for retirement for work-related reasons.

In 2024, residents aged 65 years and above made up 10.5 percent of the total employed resident population in Singapore. Improvements in healthcare and the standard of living over the years have contributed to an increase in life expectancy in Singapore. As a consequence, Singapore is currently one of the most rapidly aging societies, including an aging workforce, in Asia. Aging workforce The minimum retirement age in Singapore is currently set at 63 years old, and would be increased to 64 years in 2026. Even so, 32.5 percent of residents aged 65 years old were still employed or seeking employment. For many Singaporeans, retirement brings with it an increased economic burden. There is no system of state-funded pensions, and retirees depend largely on their savings. However, a survey on current working age Singaporeans found that few were financially prepared for retirement. Increased financial dependency on elderly breadwinners An increasingly elderly population has also led to the trend of increasing number of households who depend on elderly breadwinners, almost tripling since 2000. The number of elderly single-person households have also increased. To mitigate the economic burden on the elderly, the Singapore government has launched several upskilling programs to ensure that the elderly remain competitive in the workforce. However, beyond extending their employability, few other social safety nets are currently available to ensure a comfortable retirement for the elderly, regardless of income level.

In 2023, over a ***** of Americans were completely sure that they would outlive their retirement savings. While the share of people that were very likely to outlive their savings has decreased slightly between 2021 and 2023, the share of those that were completely sure that they would outlive their savings increased by the same amount during that period.

Intelligent Pension Equipment Market Outlook

The global intelligent pension equipment market is projected to grow at a substantial rate, with a market size estimated at $3.2 billion in 2023 and expected to reach $7.8 billion by 2032, reflecting a CAGR of 10.2% during the forecast period. This promising growth can be attributed to several factors, including the rising adoption of advanced technologies in the pension management sector, the increasing demand for efficient and transparent pension fund management, and the growing awareness among employers and employees about the benefits of automated pension systems.

One of the primary growth factors for the intelligent pension equipment market is the increasing digitization across various industries. The advent of digital transformation has permeated the financial sector, leading to the evolution of pension management systems. Organizations are increasingly adopting smart pension management systems, automated pension calculation tools, and pension fund management software to streamline processes, reduce manual errors, and enhance overall efficiency. These systems not only provide accurate calculations but also ensure timely disbursements and improved compliance with regulatory requirements.

The growing aging population globally is another significant driver for the intelligent pension equipment market. As life expectancy increases, there is a parallel rise in the number of individuals retiring and relying on pension funds for their post-retirement financial needs. This demographic shift necessitates efficient pension management systems to handle the growing volumes of pension data and transactions. Moreover, governments and private entities are increasingly focusing on enhancing the retirement experience for citizens, thereby boosting the demand for advanced pension management solutions.

Technological advancements in the field of artificial intelligence (AI) and machine learning (ML) are revolutionizing the pension equipment market. These technologies enable predictive analytics, risk assessment, and personalized pension planning, which significantly enhance the decision-making process for both administrators and beneficiaries. Additionally, the integration of blockchain technology ensures transparency, security, and immutability of pension transactions, further driving the adoption of intelligent pension equipment. The continuous innovation and development in technology are expected to create new growth opportunities in this market.

From a regional outlook, North America currently holds the largest share in the intelligent pension equipment market, driven by the early adoption of technology and robust financial infrastructure. However, the Asia Pacific region is anticipated to witness the highest growth rate during the forecast period, fueled by the rapidly expanding economic landscape, increasing urbanization, and government initiatives to enhance pension systems. Europe and Latin America are also expected to contribute significantly to market growth, owing to the ongoing digital transformation and the rising demand for efficient pension management solutions.

Product Type Analysis

The intelligent pension equipment market can be segmented by product type into smart pension management systems, automated pension calculation tools, pension fund management software, and others. Smart pension management systems are gaining traction due to their ability to automate routine tasks, enhance operational efficiency, and provide real-time insights into pension fund performance. These systems are equipped with advanced features such as predictive analytics, risk management, and compliance tracking, which are crucial for effective pension administration.

Automated pension calculation tools are another significant segment in the market. These tools are designed to simplify the complex process of calculating pension benefits, taking into account various factors such as salary, years of service, and contribution rates. By automating these calculations, these tools reduce the likelihood of errors and ensure accurate and timely pension disbursements. This is particularly important for organizations managing large volumes of pension data.

Pension fund management software is a comprehensive solution that encompasses various aspects of pension administration, including fund allocation, investment tracking, and performanc