Pension benefits are critically important for workers when deciding whether to accept a new job or to stay with their current employer. In fact, sixty-eight per cent of workers in a multi-country 2018 study stated that pension benefits were a critical factor, and eighty-four per cent of respondents reported that they wanted to utilize company-based retirement planning services. Further research states that pensions are a priority for the millennial workforce, something that was perhaps unexpected by many.
In this paper, we’ll discuss what future employees will want in pension terms and how we can create better targets and objectives for pensions based on expectations about the future of work. We’ll talk about what the responsibilities in pension management are, not just in the sense of compliance, but in terms of impact on the future, people’s lives and economic development. We’ll discuss what we might be able to do to develop healthy, well-performing pensions that have an ethical and long term purpose in mind, and how to develop a clear framework for making pension decisions.