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Global retirement assets have grown over the year to $32 trillion

According to the Organization for Economic Co-operation and Development (OECD), the pension fund assets of the region rose in 2019 to $32 trillion, Nairametrics News reports.
Global retirement assets have grown over the year to $32 trillion

The citizens of the United States of America have the largest amount of pension savings of $18.8 trillion followed by the resident of UK with $3.6 trillion, Australia - $1.8 trillion, Canada - $1.5 trillion, Japan - $1.4 trillion and Switzerland - $1 trillion. However, 90% of all OECD pension assets fall to nine states.

Compared to 2018, the assets of the region's pension funds grew by 13.9%. The only exceptions to this list are Poland and Ukraine, where pension funds showed a loss. The country with the largest increase in savings for old age is Armenia (+58.2%), followed by Turkey with 37.3% growth.

According to experts, the results of 2020 will not be so impressive. The coronavirus pandemic and the spring oil crisis provoked a series of storms in all the stock markets worldwide. According to OECD, the pension fund assets in the region will be reduced to $29.8 trillion.

The Organization for Economic Cooperation and Development is an international economic organization of developed countries that recognize the principles of participatory democracy and a free market economy. OECD includes 37 states.

Source: https://nairametrics.com/2020/06/15/global-pension-assets-rose-to-32-trillion-in-2019/

Photos are from open sources.

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