In a globally changing socio-economic environment, who is really responsible for the retirement security of the individual? The individual himself, his employer, or the state?

Employee savings and pension schemes have been known in several Arab countries for more than 50 years. These have mainly been operated as a defined contribution (DC) system, with few countries in the region regulating these in terms of actuarial reviews for solvency and professional investment management.

What would be the benefits of developing and adopting these DC schemes more widely as a key complementary vehicle in national retirement arrangements? How can DC pensions support 60% of MENA populations (largely informal sector) who are currently not under any social insurance umbrella?

How can this be modelled to provide pension coverage for the expatriate workers, especially in the GCC countries, and what economic benefits it may have those countries?

The term ‘public-private-partnership (PPP) describes synergistic interaction between the state and financial market. Instead of competing in the pension space, the public and private sectors collaborate, sharing responsibility and competence.

In a few parts of the world, state’s provision of social services such as healthcare, education and housing is seeing a socio-economic transition, with the state’s role gradually becoming one of a ‘regulator’ rather than a direct provider/ administrator.

In the pension space, this was reflected in the decreasing participation of the state’s operation in the statutory pension system, while simultaneously legislating for the development of private-sector run pension schemes to fill in the gap.

Through these partnerships, the public sector actually assigns parts of the mandatory pension arrangements to the private sector, making it a key partner in a wider national pension framework.

What could be the advantages and disadvantages of such a strategy, and how ready is the MENA region to make a real start in this direction to build a thriving pension industry?

Public pension funds have historically been suffering from chronic funding deficits, that was recently exacerbated by the Pandemic. And right now, they are facing the effects of inflation, which often means a double whammy of decreasing investment returns and increasing pension payouts.

After a prolonged era of cheap money and double-digit returns, the sharp spike in inflation to its 40-year high recently was a game changer.

For pension plans, with their long planning horizons and multi-decade liabilities, there are too many open-ended and unknowable risks. The immediate one is whether central banks are actually able to arrest the current inflationary spiral and ensure that inflation expectations remain anchored to their policy targets.

Furthermore, global macro and geopolitics are reshaping global economies and how we should monitor and manage risks.

How are pension asset allocators faring at such market environment while also managing liquidity? What dynamic risk-taking (beyond classical Asset Liability Management techniques) they may adopt to optimize the asset allocation for various asset classes?

How do they find opportunities and identify new asset classes and new asset allocation tools to inflation-proof their portfolios?

How do they manage funding in an era of higher and more volatile interest rates?

Furthermore, how should pension funds look at investing in China, private markets and most recently cash?

Technology is transforming our financial lives, with pensions no exception. What are the big trends on the horizon, and how can pension savers, pension organisations and providers prepare for the future?

With state pensions facing sustainability challenges, more people are educating themselves about their pension options considering their personal circumstances.

As people live longer and as healthcare costs rise, many people's pension plans will fall short of providing them with a comfortable retirement.

Challenges at the macro level are fed by issues at the micro level: People are ignoring their retirement and are putting off planning for it.

What opportunities could arise from these risks and challenges? How could pension organisations evolve from a ‘transaction’ role to an ‘engagement’ role with their members and beneficiaries?

How can private pension providers address this market potential? What applications, technologies and user experiences do they need in place?