CFA Institute President and CEO, Marg Franklin, said: “Since the inception of the Mercer CFA Institute Global Pension Index, the investment management and pension industry at large have faced extraordinary challenges.
“New financial products and strategies will be required to deliver adequate returns for beneficiaries.
“This past year, we’ve gone from a ‘lower for longer’ interest-rate environment to significant rates of inflation, quadrupling of interest rates in some global markets and a rise in the cost of living for many, all of which have a significant impact on the fixed income of retirees.
“At CFA Institute, we believe financial professionals can serve as a force for good in society to support individuals through this complex time.
“This report provides insights on how retirement plans need to adapt or are adapting to the changing environment, and also makes recommendations for a range of reforms that can be implemented to improve the long-term outcomes from our retirement income systems.”