I think this has to do with the age distribution in Western countries. As the baby boomers retire, they no longer are adding but start removing funds from the

I think this has to do with the age distribution in Western countries. As the baby boomers retire, they no longer are adding but start removing funds from the system. A friend and I talked about this 20 years ago when 401(k)'s became the rage, lamenting that we were on the wrong side of the boom.