November 2024
28Nov

UK. Pensions savings confidence hits seven-year low, says BlackRock

Three-quarters of UK defined contribution pensions savers say they are not on track to achieve a “reasonable standard of living” in retirement, according to asset manager BlackRock, marking the lowest level of confidence in long-term savings prospects since the survey began in 2017. The survey of 1,000 savers across the UK found half of those questioned said they could not afford to save enough for retirement, while over a third of DC members said their “biggest concern” was not having...

November 28, 2024
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25Nov

Are You One of 38 Million Seniors Who Fear Your Retirement Income Won’t Be Enough? You’re Not Alone.

Social Security is one of the most crucial functions of the U.S. government. Last year, the program paid roughly $1.5 trillion to 68 million Americans, 51 million of whom were retired. Many of these retired Americans rely on the program for a significant portion of their incomes. Originally intended as one of three income sources for retirees along with employer pensions and personal savings, Social Security's role has grown as pensions have become rare for most. Many lower-income earners are unable...

November 25, 2024
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October 2024
17Oct

Why the US lags globally in retirement security

The United States ranks 29th out of 48 countries Mercer and the CFA Institute evaluated for their global pension index published this week. That equates to a C-plus letter grade, with a peer group of the United Arab Emirates, Kazakhstan, Hong Kong, Spain, Colombia, and Saudi Arabia. All of those countries have systems with “some good features but also ha[ving] major risks and/or shortcomings that should be addressed,” the report stated. “Without these improvements, its efficacy and/or long-term sustainability can be...

October 17, 2024
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September 2024
13Sep

2024 Global Retirement Index

By Natixis Investment Managers Despite positive progress for many countries in the Global Retirement Index (GRI), retirement security remains on shaky ground in 2024. More and more individuals across the globe are realizing that they’re on their own when it comes to funding their retirement. Results from the long-running Natixis Global Survey of Individual Investors reveal that the number of people who say it’s increasingly their responsibility to fund retirement on their own—rather than relying on public and private pensions—has grown...

September 13, 2024
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13Sep

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...

September 13, 2024
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12Sep

UK retirement security reaches record high in GRI

Retirement security in the UK has improved over the past year and reached a record-high position of 14th place on the Natixis Investment Managers (IM) Global Retirement Index (GRI), the firm has revealed. The UK rose two places in the index over the past year, outperforming France, Finland, Sweden, and the United States, with the improvement driven by increases in health spending per capita. Overall, the UK scored 74 per cent on its retirement security, up from 67 per cent and...

September 12, 2024
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March 2024
15Mar

OECD/INFE 2023 International Survey of Adult Financial Literacy

By OECD Understanding current levels of financial literacy and needs is key for the effective development of financial literacy strategies and programmes. This report presents the results of an international survey of financial literacy levels among adults. A total of 39 countries and economies, of which 20 are OECD member countries, participated in this third coordinated measurement exercise using the globally recognized OECD/INFE 2022 Toolkit for Measuring Financial Literacy and Financial Inclusion to measure financial literacy levels among their adult...

March 15, 2024
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15Mar

The Lifelong Benefits of Improved Financial Literacy

By Annamaria Lusardi Annamaria Lusardi talked with Retirement Management Journal Editorial Advisory Board Members in June 2023 about benchmarking and assessing financial literacy, how it compares globally and why it matters, and providing financial education to improve retirement readiness. Source SSRN

March 15, 2024
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13Mar

Building Europe’s Green Transition and Retirement Security – Listed Real Estate’s Dual Role in Global Megatrends

As we enter 2024, the world continues to confront financial and environmental challenges on a global and societal scale. Globally, efforts to meet the Paris Agreement’s objectives are falling behind, with the green transition’s investment levels not meeting the necessary targets. This was highlighted by the World Bank’s Senior Managing Director, at the recent EU Sustainable Investment Summit, where the critical need for accelerated private investment in sustainability was underscored. The Commission identified a 1.5 trillion euro annual funding need...

March 13, 2024
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01Mar

Financial Fragility, Financial Resilience, and Pension Distributions

By Robert L. Clark & Olivia S. Mitchell We evaluate Americans’ financial robustness during the Covid-19 pandemic, using measures of financial resilience and financial fragility derived from US surveys of persons age 45-75 from 2020 to 2022. We analyze which factors were associated with resilience and fragility, discuss how these measures changed during the pandemic, and assess whether pre-pandemic resilience led to better outcomes during the period. Results show that stronger resilience was protective in terms of financial fragility, and financial literacy...

March 1, 2024
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