People are growing older and living longer. But even as more workers in developed nations reach retirement age, fewer are really ready for 20, 30 or more years without a paycheck. Defined Contribution (DC) retirement solutions must continue to evolve, helping workers retire with confidence—wherever they live
RETIREMENT SAVINGS ARE SHIFTING TO DC GLOBALLY
DC plans are already the primary source for most workers retirement assets in the US and Australia, but the shift away from defined benefit (DB) plans to DC plans is steadily gaining traction in the UK, Japan, Canada and elsewhere. That means more savings flexibility and freedom for many workers—freedom to be more responsible or freedom to fail.
WHY IT MATTERS
WHAT PLAN SPONSORS DO IMPACTS PARTICIPANT OUTCOMES
The goal is always better retirement outcomes, but most workers need all the help they can get. That’s why DC plan sponsors need forward-looking and flexible solutions. They need solutions that help workers retire when they want to retire. They need solutions that help today’s and tomorrow’s participants, the retirement plan and its sponsors, and the company itself.
DC PLANS MUST FOCUS ON THE REAL FUTURE
Plan sponsors must embrace the real future of retirement for their workers and their companies. Whether it’s better plan participation, better implementation or better default investments—including advancements in target-date design—plans must continue to evolve.