Japan has one of the world's oldest populations — by 2020, about half of the total population will be retired, a ratio that is expected to increase to more than three-fourths of the population by 2050. When combined with Japan's low birth rate and extremely high life expectancy, this trend is projected to have a severe economic impact on the country. According to one survey, only 3 percent of Japanese people feel prepared for their retirement.
More on aging populations:
- Many European countries are facing an aging crisis as well. One-fifth of the population in Italy, Germany, Greece and Belgium is older than 65.
- Countries with the youngest populations are almost uniformly in Africa. Less than 2 percent of the population in the United Arab Emirates, Kuwait and Qatar are older than 65. The median population age in the majority of African countries is 15-20 years.
- Many countries with aging populations have no formal pension system. For example, India has about 300 million working people who have no access to pensions or retirement plans.