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Reshaping Retirement Security
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Reshaping Retirement Security: Lessons from the Global Financial Crisis

Raimond Maurer, Olivia S. Mitchell, and Mark J. Warshawsky

Abstract

The worldwide financial crisis has wrought deep changes in capital and labor markets, old-age retirement systems, and household retirement and consumption patterns. Around the world, plan sponsors, fiduciaries, policymakers, and households have gained a new awareness of retirement risk. When pressed to reform postcrisis, many would recommend enhancing financial advice for plan participants, emphasizing flexibility and the positive effect of working another one or two years to make up for investment losses in the downturn. Adding to this is the continuing need for financial education, essential ... More

Keywords: pensions, capital markets, crisis, financial markets, financial security, economic recession, saving, wealth

Bibliographic Information

Print publication date: 2012 Print ISBN-13: 9780199660698
Published to Oxford Scholarship Online: January 2013 DOI:10.1093/acprof:oso/9780199660698.001.0001

Authors

Affiliations are at time of print publication.

Raimond Maurer, editor
Endowed Chair of Investment, Portfolio Management, and Pension Finance, the Goethe University of Frankfurt

Olivia S. Mitchell, editor
International Foundation of Employee Benefit Plans Professor of Insurance and Risk Management, the Wharton School, University of Pennsylvania

Mark J. Warshawsky, editor
Director of Retirement Research, Towers Watson

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