Retirement security was already on shaky ground when the calendar turned to January 1, ushering in a year of unprecedented and unexpected challenges that have compounded threats to global retirement security.
According to Natixis Investment Managers’ 9th annual Global Retirement Index, the challenges of 2020 have disrupted financial markets, caused widespread unemployment and demanded urgent response from policy-makers, all of which could have long-reaching impacts on retirement security.
The goal of the index is to provide an objective tool for comparing where critical issues are best aligned to ensure individuals can have a secure retirement.
“The factors affecting global retirement security are not stagnant,” said Dave Goodsell, executive director of the Natixis Center for Investor Insight. “They’re dynamic and inextricably linked to world events. Perhaps, no year underscores that more than 2020. When we started the year, retirement security was already on unsteady ground.
The demographic and the economic realities of the developed world challenged the math behind traditional retirement. Nine months into the year, retirement security looks downright perilous as the pandemic, an economic decline, climate related disasters and a growing awareness of economic inequality underscore the long-term risks.”