Larry Fink, chief executive of BlackRock, the world's largest asset manager, has been clear in his message that the US needs to save more for retirement. Now, to coincide with Financial News' feature this week on the world's pensions crisis, he tells FN policymakers — and individuals — worldwide need to do more.

Financial News: Last week, the UK Chancellor George Osborne announced plans to raise the state retirement age that could see it increased to 70 by 2060. Do you think this is a positive development?