The survey gathered input from HR, Finance and Risk professionals with an international/multi-country remit on how they govern their regional and global retirement arrangements. As Defined Contribution (DC) plans become the dominant way in which individuals save for their retirement, this survey placed a particular focus on DC plan governance, member outcomes and financial wellbeing.
Key findings:
- Good progress has been made in recent years in respect of global pension plan governance, with a greater number of organisations now having a centralised benefits strategy and oversight.
- Greater focus is needed to optimise DC member outcomes, and this is recognised as a key objective by many multinationals; in particular to ensure:
- Retirement benefit design is compliant and competitive.
- The value of retirement benefits is not eroded by poor investment performance and provides an adequate projected retirement income.
- Employees are supported on their retirement journey through appropriate education and guidance, particularly considering recent global economic challenges.
- Establishing appropriate ongoing monitoring and reporting processes remains vital to delivering the best possible outcomes for members and ensuring effective plan management.
We will be hosting a webinar on 12 March 2024 to run through the top findings from the survey as well as some broader pension topics; please register here. If you are unable to make this date then let us know and we can send you a recording of the webinar afterwards.
We hope you find the report informative. If you would like to discuss any of the topics raised with one of the International Wealth Solutions team, please get in touch.
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