Investing in (and for) Our Future
This paper identifies more focused reforms around defined contribution plans, which have grown increasingly around the world. It identifies recommendations around accumulation and also ai...
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Retirement Investment Systems Reform
Retirement systems play a critical role in society and impact virtually every major stakeholder group, as well as the broader economy and financial system. Macro trends (globalization, technology, demographics, and regulatory changes) and events (financial and fiscal crises) are reshaping the retirement investment ecosystem and undermining the sustainability of systems across the world. Historically, public and private institutions had managed and pooled the risks of individuals and guaranteed certain outcomes to individual participants (known as “defined benefit” plans), but that system has slowly been supplanted by one where each individual is personally responsible for their retirement (known as "defined contribution" plans).
The Forum is uniquely positioned to address this issue because any solution requires coordinating multiple stakeholders (national/state/local governments, regulators, private investors, institutional investors, asset managers, insurance companies) and solutions are drawn from experiences in many different regions and countries.
The project objectives are to:
1. Raise awareness among key stakeholders as to the implications of the shift
2. Identify best practices and draft recommendations aimed at ensuring: a) access by individuals to retirement solutions; b) the sustainability of retirement systems; and c) access by businesses and infrastructure to long-term capital.
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Related Reports
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Further reading
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Study, work, retire. Time to scrap the old pattern of working life
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Brigitte Miksa, Head of International Pensions at Allianz Asset Management, says we need to rethink how we calculate the burden pensions will place on economies.
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Why are American women far more likely than men to be poor in retirement?
Women in the United States are 80% more likely than men to fall into poverty once they retire.
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Will there be a retirement age in the future?
With the elderly beginning to outnumber the young around the world, workers, employers, and policymakers are rethinking retirement.
At what age can women retire in your country?
Future of Economic Progress
Do wages influence retirement decisions?
United Kingdom