Driven by the emerging markets of Asia, the global retirement market is slated to grow to $46 trillion from $28 trillion by 2020, according to a new report by Allianz.

The 66% increase will come despite the current financial crisis and despite the expected slower growth of the U.S. pension system, by far the biggest retirement market in the world. According to Allianz, the emerging markets of Asia are expected to grow by 16.8% a year, reaching a total volume of $3 trillion. This is roughly the size of the United Kingdom’s current retirement market.

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