Yet another research report highlights structural problems with the global retirement system. All system stakeholders must acknowledge the financial burden left behind for the younger generation and systematically rebalance affordable benefits and expectations of pension and retirement systems, notes a study by EY.
In a report titled “Building a better retirement world”, EY points out that the global financial crisis (GFC) acted as a catalyst for various stakeholders including governments, public and private sector employers to focus on the long-evolving financial challenges in retirement.
Pension and retirement shortfall: Demographic earthquake
According to the EY report, many systems in developed markets face severe strain thanks to expectations mismatch. The report points out that there is a mismatch between increasing longevity and expectations of generous retirement...
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