The financial crisis and the ensuring Great Recession have alerted those concerned with old-age security to the extreme risk confronting our retirement system. In this volume, we provide an indepth analysis of the ‘black swans’ threatening pension plans around the world. Longevity risk, capital market shocks, regulatory and political risk, and model risk all have profound consequences for pension plan participants, plan sponsors, regulators, and consultants. This book also sketches various ways to manage and finance these risks, with a view to rebuilding a more resilient retirement system. In particular, the ensuing chapters take on longevity risk, capital market risk, model risk, and regulatory risk.