How Persistent Low Returns Will Shape Saving and Retirement

Funded pension systems around the world have long relied on relatively high and predictable long-term capital market returns. Yet these retirement systems confront a key challenge today, namely, how to deal with what appears to be persistently low returns on bonds and equities. For this reason, it will be prudent, and probably necessary, for insurers, plan sponsors, workers, retirees, and policymakers to take concrete steps to prepare for these lower long-term expected rates of return to retirement wealth. In fact, as we show in this volume, a persistent low-interest-rate economy will compel many to revisit how much they save, how they invest, and how long they can afford to live in retirement. Academics, policymakers, and industry leaders debate alternative strategies to cope with these challenges globally, as economic growth remains slow and low returns become the ‘new normal.’

• Older Worker Identity and Job Performance

  Open Access•Francisco Rodríguez-Cifuentes, Jesús Farfán et al.•International Journal of…•2018

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