What should pension funds & their members be thinking about now?
Today’s pension fund members should be investing for a horizon of 80 years or more. While it is impossible to predict what the world will be like in 2100, it is safe to assume that it will be radically different to the one we live in today.
We can expect the retirement industry to be disrupted by many unforeseen changes, just like we saw with the very recent Covid-19 pandemic. So, it is useful to consider the trends we can identify. How are these likely to impact long term savings outcomes, and what should pension funds and their members do now to capitalize on the opportunities presented and mitigate risks?
Below are some factors that the retirement industry should be considering in order to transform its traditional approach and ensure it is able to meet future expectations.