This study is the latest in a series of in-depth studies by Bank of America Merrill Lynch and Age Wave. The series focuses on seven life priorities for people as they move to and through retirement and finds that as the baby boomer generation retires en masse to enjoy newfound freedom of time and activities, an estimated 2.5 trillion hours of leisure time will be created among the age 65+ population over the next two decades. This “leisure boom” will have an unprecedented impact on individual lifestyles, families, and leisure marketplaces.

In 2016, BlackRock launched the BlackRock Retirement Institute, a global thought-leadership platform that extends the firm’s industry-leading efforts to help clients and the broader community to make better decisions about retirement and longevity. Through BRI, BlackRock sought the views of experts—inside and outside the financial services sector— to create and amplify the best thinking on retirement and longevity. Geared towards the professional community—including financial advisors, plan sponsors, regulators, and elected officials—BRI took the lead in explaining the ins-and-outs of retirement investing and the various options individuals, businesses, and policy-makers face when planning for retirement. Because the retirement challenge is about more than money, and BRI’s mandate extended far beyond the details of financial planning. Its mission was to think about the broad matrix of factors that affect retirement security in the U.S. and around the world.

How will the redefinition of retirement change our lives, communities and institutions? Bank of America Merrill Lynch’s Andy Sieg joins other thought leaders at the Milken Institute’s Global Conference for a discussion about the future of retirement.

Can a city help improve your health outcomes? Can a hospital make you sick? In this webinar, an expert panel, featuring GCOA Executive Director Melissa Gong Mitchell, discusses the relationship between environment and healthy aging, the resources required to age in place, and examples of communities that are embracing and benefiting from the aging in place trend.

Former Nebraska Governor and Senator Bob Kerrey joined Bank of America Merrill Lynch’s Andy Sieg at a forum held at the Museum of American Finance to discuss how population aging is transforming retirement as we know it.

S&P created this solutions-oriented report was created in partnership with GCOA. The report examines the intersection between two defining demographic trends of the 21st century – rapid urbanization and aging populations – and outlines a set of principles to advance the creation of self-sustaining cities that support residents of all ages.

In October 2015, the World Economic Forum’s Global Agenda Council on Ageing produced a white paper titled, ‘How 21st-Century Longevity Can Create Markets and Drive Economic Growth’, which underpins that business is on the brink of a new, innovative, and imperative opportunity that also has the potential to play a central role in transforming global society. The white paper describes how this demographic shift can be a driver of economic growth at national, regional, and global levels, and also highlights companies who have already begun to strategically position themselves in what they regard as a market growth opportunity.

In September 2015, GCOA and the OECD hosted an expert consultation at Harris Manchester College. The workshop brought together a group of diverse stakeholders from across industry, aging, technology, and public policy to address three  themes aimed at elevating digital competencies for people of all ages: Education and Intergenerational Partnerships, Trust, and Scalability. The workshop explored the barriers to increasing the digital competency of older adults, in particular. For more information about the event, please visit the OECD website.

A group of international experts, including economists, policy makers, social scientists, researchers, and representatives of private sector, professional, and other associations, convened at Harris Manchester College in Oxford on June 26, 2014 to discuss the opportunities of the silver economy as a response to population aging. The day-long consultation was organized jointly by GCOA and the Organization for Economic Cooperation and Development (OECD), and built on the outcomes of an OECD-APEC Workshop on Anticipating Special Needs of the 21st Century Silver Economy, held in Tokyo in September 2012. For more information about this event, please visit the OECD website.

The third annual Aegon Retirement Readiness Survey questioned over 16,000 people in 15 countries – including Brazil, India and Turkey for the first time. The report finds that despite improving economic sentiment, people have clear concerns about their retirement. They do not feel sufficiently prepared and, worryingly, they are not acting on it.

This 2014 GCOA white paper urges global policy makers to develop policies and programs to maximize the potential of healthy and engaged older populations as active and productive resources that will revitalize and ensure sustainable growth. The paper offers insights and examples for how to utilize aging populations to drive economic growth.

The insights are focused in four areas:

• Investment in wellness and prevention to allow all citizens to stay active and productive economic contributors throughout the life course;
• Promotion of age-friendly businesses and entrepreneurship to maximize talent and create jobs;
• Movement of caregiving from institutions into the home and community through innovations in personal care and technology; and
• Development of age-friendly environments to ensure social and economic participation of older adults.

The insights were gathered from economic analysis and a series of policy dialogues hosted by GCOA, which included experts from across both public and private sectors, with economic, demographic, business and policy backgrounds. The policy dialogues took place in several locations, including Beijing, China; Istanbul, Turkey; and Bangkok, Thailand.

In 2013, GCOA set out to investigate the effects of travel on the healthy aging process and uncover how individuals are preparing to make their travel dreams a reality. The second piece of this two-part project is a survey report created in partnership with the Transamerica Center for Retirement Studies. The report reveals that although Americans prioritize travel and are beginning to understand its health benefits, they are not taking action to save for it as part of the healthy aging process.

See Part I

In 2013, GCOA set out to investigate the effects of travel on the healthy aging process and uncover how individuals are preparing to make their travel dreams a reality. The first piece of this two-part project is a meta-analysis of existing academic and social research. This first-of-its-kind research links travel – and the activities associated with travel – with positive health outcomes.

See Part II

The second annual Aegon Retirement Readiness Survey paints a picture of continued un-readiness when it comes to retirement planning. Despite increasing numbers of retirees, longer life expectancies and decreasing work age populations, all countries represented in the Aegon Retirement Readiness Survey showed a decline in readiness compared with 2012.

This 2013 report is based on findings from the second annual Aegon Retirement Readiness Survey, which analyzed multi-year trends and assesses the retirement expectations of 11,000 workers in 12 countries spanning Europe, the Americas, Asia and Australia. This report finds that the aspiration to save for retirement remains surprisingly strong for employees in their twenties. As the squeeze on household incomes places constraints on their ability to save, it is necessary to improve access to retirement products, preferably with clear tax benefits, and to better financial education and advice.

This 2013 GCOA report advocates for a life-course approach to vaccinations. The report underscores the need for a greater awareness of the role of vaccines as a preventive measure as the global population ages, highlighting that immunizations among adults remain below target levels. The result is unnecessary costs, unwanted health outcomes, and poor utilization of health resources.

In June 2013, GCOA and the OECD hosted an expert consultation on innovation for Alzheimer’s disease and dementia at Harris Manchester College. The aim of this consultation was to stimulate discussion and the highest possible level of expert engagement in setting out an agenda for OECD action to accelerate innovation for Alzheimer’s disease and dementia. Specifically, the objectives were to:

• Provide a space for country experts, policy makers and other stakeholders to share views on the main scientific, technological and policy challenges Alzheimer’s and dementia raise
• Create an opportunity for multidisciplinary exchange
• Capture views on how to move forward and develop concrete ideas for OECD action

Visit the OECD website for more information.