Much more needs to be done to tackle the challenges of a rapidly aging population, and the responsibilities must be shared between governments, companies and individuals, consulting firm Mercer's president and chief executive officer told CNBC Thursday.
Julio Portalatin, speaking exclusively to CNBC's "Squawk Box," said efforts to compensate for an older population need to take into account that people are both living and working longer.
Populations are on course to get older quickly. Many countries, most notably Japan, are already dealing with a population pyramid with a narrow base of fewer young and thick middles of older people. That has consequences for the rest of the economy as the working age population shrinks.