Global Pensions Update: The Future of Retirement

How will macro events impact the retirement crisis?

If demographics are destiny, then a number of key economies are in big trouble. The number of people living longer has increased over the past few decades, putting more pressure on pension plans to deliver for a growing pool of retirees. This dynamic can also act as a drag on economic growth if overall workforce productivity declines. The macro events of the past two years highlighted even more the big question mark that hangs over the future of retirement.

Global Pension Finance Watch (WTW)

To obtain a general indication of pension plan performance in various countries, WTW has created a benchmark pension fund that represents the typical plan in each market.

US Pension Investment Outlook (Insight Investment)

For compliance reasons, this paper is only accessible in the United States and Canada

Given the macro uncertainties which surfaced throughout 2022 (high inflation, increased interest rates, etc.), how are U.S. pension plans positioned going forward?

2023 Retirement Outlook (MFS)

For compliance reasons, this paper is only accessible in the United States

The biggest question for managers of retirement plans is whether central bank policy will be effective in containing inflation in 2023 or not.

The Bridge To Better Outcomes In DC Plans? (PGIM Defind Contribution)

For compliance reasons, this paper is only accessible in the United States

Looking at a dataset of 100,000 401(k) participants, only c. 5% of participants who are age 55 currently have enough savings to delay claiming Social Security benefits to age 70.

Multi Asset Income Withdrawal In A World Of Short Business Cycles (RLAM)

For compliance reasons, this paper is only accessible in the United Kingdom

The analysis presented in this paper poses a specific challenge to pension providers: how will their decumulation solution manage sequencing risk?

UK Defined Benefit Pensions Survey 2022 (PwC)

For compliance reasons, this paper is only accessible in the United Kingdom

This survey shows, among other things, that rising funding levels present a number of opportunities for scheme sponsors and trustees.

Issues for Superannuation Fund Providers in 2023 (KPMG)

For compliance reasons, this paper is only accessible in certain geographies

This piece highlights some key issues for superannuation fund providers, including recent regulatory reform and the impact of digitalisation.

DC Trust: Scheme Return Data 2022 to 2023 (The Pensions Regulator)

For compliance reasons, this paper is only accessible in the United Kingdom

Among the key findings in this report is that, in the last year, the UK DC market has been subject to further concentration of schemes.

The Dutch Financial Assessment Framework's Impact on Pension Funds (JPEF)

Funds which invested more in mortgages prior to the Global Financial Crisis experienced larger reductions in the funding ratio, this study finds.