Abstract: This book posits that retirement security is the central policy concern of our time. A generation of ‘Baby Boomers’ is on the verge of retirement, yet pension systems confront crushing challenges, and governments often appear confused about which direction they should move in. The book addresses the question: ‘What are the new risks and rewards in pensions, and what paths can stakeholders chose to solve these problems?’ In doing so, it explores three aspects of the evolution of risk and reward-sharing in retirement in order to offer guidance to pension fiduciaries, plan participants, and policymakers. First, it focuses on new perspectives for assessing retirement risks and rewards. Second, it evaluates efforts to insure retirement plans. Lastly, it provides several new strategies for managing retirement system risk.

Keywords: retirement security, pensions, Baby Boom generation, retirement plans, pension fiduciaries