The International Financial Services Centres Authority vide its press release dated 13th April 2022, has notified the recommendation made by the expert committee in setting up of longevity hub at GIFT-IFSC.
The committee examined emerging trends in the Longevity Economy globally and observed that people over 60 years old are still very much a highly productive demographic group in terms of purchasing power and make up the wealthiest part of the financial system with a global spending power of $15 trillion.
Highlighting the critical role of financial services sector for the growth of Longevity industry, the Committee recommended the setting up of first Global Longevity Hub (GLH) in GIFT-IFSC and suggested that the hub should focus on developing the longevity economy by offering various longevity finance solutions in coordination with leading corporates and financial institutions such as Banks, Pension Funds, Asset Management Funds, Insurance Companies, etc.
The long-term vision of building a strong longevity finance hub at IFSC can open-up opportunities in wealth management, insurance, pension, silver entrepreneurship and medial tourism. This will help GIFT IFSC emerge as a global leader in longevity finance. The hub will focus on skill development, entrepreneurial development and also address the demand of financial and insurance products for silver generation.
