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The vast majority of people around the world support the idea of living longer. But few among them take into account the financial consequences of this trend. However this issue represents a real time bomb for the public finances. This risk has been clearly underestimated. Yet many countries are having a great deal of difficulty achieving balanced budgets. And the increase of longevity will contribute to aggravate the public debts and deficits. According to the UN and IMF reports, life expectancy at birth has increased greatly especially in the past 100 years. In the 1750s estimated life expectancy at birth was below 40 years in northern and western Europe. Well, the World Health Organization in its Life Expectancy Report 2011 ranks Japan and Switzerland first with an overall life expectancy which is 83 years. India with an average age of 65 years ranks 138. And the UN report estimates that by 2050 life expectancy at age 60 will increase to an average of 26 years in advanced economies and about 22 years in developing economies. This is good news which could however seriously affect financial stability all over the world. It constitutes undoubtely a major challenge for public authorities but also a real threat for citizens themselves.

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