Much has been written about the impact of the baby boomer generation on societies all across the world, especially when they begin to retire.

The McKinsey Global Institute recently released research showing that baby boomers will need to continue working after they reach retirement age if they do not want to experience a significant decline in living standards and become a drag on the global economy and that of their country.

Further exacerbating this situation is the current uncertainty of global economic markets and what a recession will mean to investments and pension systems.