'时钟炸弹'：全球养老基金面临人口老龄化危机

Worldwide retirement systems confront a structural demographic challenge as rising life expectancies coincide with dwindling birth rates. This mismatch severely strains traditional pension funds, creating a widening funding gap that threatens future retirement security. Financial institutions and policymakers must navigate difficult choices, including raising retirement ages, increasing contributions, or reducing benefits. Failure to reform these systems could lead to systemic fiscal instability and reduced consumer spending power among retirees. Asset managers are shifting investment strategies to cope with lower yields and higher liquidity demands from aging client bases.