The future of retirement security: An international comparison through the lens of adequacy, sustainability, equity and plan design
By Surya Kolluri, Catherine Reilly & David Richardson
The average retiree can now expect to spend about two decades in retirement, roughly double the time from 50 years ago. Along with extended lifespans, the number of workers per retiree is declining around the world and ever fewer workers have access to defined benefit (DB) plans that promise a guaranteed income in retirement. Instead, most workers save for retirement through defined contribution (DC) plans, which do not automatically convert savings into income. This report examines how seven countries have adapted their retirement systems to account for these and other challenges.
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