Building Better Retirement Systems in the Wake of the Global Pandemic

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Wharton Pension Research Council Working Papers
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COVID-19
coronavirus
pandemic
retirement planning
retirement systems
pensions
annuities
financial literacy
impact of low returns
insurance
financial literacy
Economics
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In the wake of the global pandemic known as COVID-19, retirees, along with those hoping to retire someday, have been shocked into a new awareness of the need for better risk management tools to handle longevity and aging. This paper offers an assessment of the status quo prior to the spread of the coronavirus, evaluates how retirement systems are faring in the wake of the shock. Next we examine insurance and financial market products that may render retirement systems more resilient for the world’s aging population. Finally, potential roles for policymakers are evaluated.

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2020-06-30
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Prepared for the 2020 Stockholm Conference on “Consumer Behavior in Financial Markets,” and the 2020 NBER Conference on “Pension Design and Population Aging.” This research is part of the NBER programs on Aging and Labor Economics, and the Household Finance working group.
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