Global retirement lowdown
Employee Benefit Adviser, May, 2007
A recent defined benefit plan survey of global pension experts in the United States, Canada, Australia, United Kingdom and Europe finds international DB plans hamper corporate competitiveness and must be restructured in order to survive.
Respondents to the Oxford University and Pensions & Investments survey say competitive pressure is causing employers to close or freeze plans. A lack of confidence in decision-making on investments was apparent among U.K. and Australian respondents. The survey also revealed no consensus on who should save pension plans struggling to meet their long-term liabilities.
Sixty-five percent of respondents predicted corporate DB plans will play a less significant role in retirement provision in 20 years than they do now. That's because...
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