The Looming Worker-to-Retiree Crisis

Number of Countries With Fewer Than 2 Workers Supporting Each Retiree to Double by 2035


 
The worker-to-retiree ratios of many of the world’s leading economies are declining. Japan, for example, had over 6 workers for each retiree in 1970 and now has fewer than 2. This is dangerous because it is increasingly shifting the entire burden of one retiree's pension, healthcare, and social care costs onto a single worker.

Lowest Worker-to-Retiree Ratios 2035
Workers to each elderly dependent (65+ Years of age)

Country

 

 

 

 

 

 

 

2010

2025

2035

 

Italy

 

 

 

 

 

 

 

1.8

1.5

1.1

 

Hong Kong

 

 

 

 

 

 

 

3.7

1.9

1.2

 

Greece

 

 

 

 

 

 

 

2.1

1.6

1.3

 

Bosnia and Herzegovina

 

 

 

 

 

 

 

1.4

1.7

1.4

 

Japan

 

 

 

 

 

 

 

1.9

1.6

1.4

 

Korea, Rep.

 

 

 

 

 

 

 

4.2

2.3

1.4

 

Spain

 

 

 

 

 

 

 

2.4

2.0

1.5

 

Croatia

 

 

 

 

 

 

 

2.2

1.7

1.5

 

Taiwan

 

 

 

 

 

 

 

4.1

2.3

1.5

 

Portugal

 

 

 

 

 

 

 

2.4

1.8

1.5

 

Germany

 

 

 

 

 

 

 

2.3

2.1

1.6

 

Country

2010

2025

2035

Italy

1.8

1.5

1.1

Hong Kong

3.7

1.9

1.2

Greece

2.1

1.6

1.3

Bosnia and Herzegovina

1.4

1.7

1.4

Japan

1.9

1.6

1.4

Korea, Rep.

4.2

2.3

1.4

Spain

2.4

2.0

1.5

Croatia

2.2

1.7

1.5

Taiwan

4.1

2.3

1.5

Portugal

2.4

1.8

1.5

Germany

2.3

2.1

1.6
Source: World Economics Population Database, 2026




Note: “Worker” refers to employed individuals aged 15-64. “Retiree” refers to individuals aged 65+.

Currently, 11% of countries have a worker-to-retiree ratio below 2. As soon as 2035, this figure is projected to have doubled to 22%. By 2040, nearly a third of the globe (32%) may face this alarming low ratio.

More for subscribers:  
See more...The Alarming Cost of Aging Demographics
See more...The Aging Problem Facing All OECD Countries
See more...See more 'Number of Workers to Each Elderly Dependent' data...



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