Animated charts with talk-over commentary on why most countries’ pension systems are in trouble.

In 1935, when America first introduced state pensions to relieve poverty in old age, the average life expectancy was 62. The official pension age was 65. That meant the cost of the pension system was very modest.

These days people live a lot longer. America’s official pension age is now 66, but people on average retire at 64 and can then expect to draw their pension for 16 years.