SVIA Fall Forum 2024

The Future of Retirement Finance
In the last 40 years, many countries around the world changed how their citizens saved and invested. Individuals could no longer entirely rely on the government or the employer for income in retirement. This coincided with a long, persistent decline in interest rates which made saving for retirement risker and pensions more expensive and difficult to manage.
Now the first generation with significant defined contribution assets are starting to retire. There are many short-comings in our current retirement system that will become more apparent in a high inflation and rising rate environment. This environment will pose challenges for both individual savers and defined benefit pension managers and put strain on the current retirement system. How can we do better for people and manage this new source of risk?