Study Finds Public Pension Promises Exceed Ability to Pay
According to research conducted by Citigroup, many developed countries have promised workers pensions that far exceed what the countries are capable of paying. Investors who unknowingly purchased government backed bonds from these countries could be at risk. The report claims that there are twenty countries within the Organization for Economic Cooperation and Development that have collectively promised an estimated $78 trillion in pensions with almost no ability to cover the cost.
See "Study Finds Public Pension Promises Exceed Ability to Pay", MARY WILLIAMS WALSH, The New York Times, March 18, 2016