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Reshaping Retirement Security - Lessons from the Global Financial Crisis (Hardcover, New)
Loot Price: R3,239
Discovery Miles 32 390
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Reshaping Retirement Security - Lessons from the Global Financial Crisis (Hardcover, New)
Series: Pensions Research Council
Expected to ship within 12 - 17 working days
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The worldwide financial crisis has wrought deep changes in capital
and labor markets, old-age retirement systems, and household
retirement and consumption patterns. Confidence has been shaken in
both the traditional defined benefit and defined contribution
plans. Around the world, plan sponsors, fiduciaries, policymakers,
and households have gained a new awareness of retirement risk. When
pressed to reform post-crisis, many would recommend enhancing
financial advice for plan participants, emphasizing flexibility and
the positive effect of working another one or two years to make up
for investment losses in the downturn. Adding to this is the
continuing need for financial education, essential as the
retirement system moves increasingly toward personal account
pensions. Perhaps most important of all is the need for greater
understanding of risk throughout the retirement security system,
along with new approaches to re-engineering retirement pensions.
This volume explores the lessons to be learnt for retirement
planning and long-term financial security in view of the massive
shocks to stock markets, labour markets, and pension plans
resulting from the financial crisis. It aims to rethink retirement
in the new economic era, including the resilience of defined
contribution plans and how defined benefit plans reacted to the
financial crisis.
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