Economy

The world braces for retirement crisis

By Paul Wiseman
Published December 30, 2013 5:00am ET
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The world braces for retirement crisis
In this Sept. 9, 2013 photo, Dong Linhua, 59, works at his workshop in Shanghai. "I heard that the authorities might postpone the age of the retirement, but I sure hope not, since I've already worked for almost 42 years," says Dong. (AP/Eugene Hoshiko) | Eugene Hoshiko

A global retirement crisis is bearing down on workers of all ages.

Spawned years before the Great Recession and the financial meltdown in 2008, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching.

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