Mercer Sets Forth Bold New Ideas to Address the Sustainability of Global Retirement Systems
Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly-owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), today announced the launch of “Bold Ideas for Mending the Long Term Savings Gap, ” which addresses ways to improve the $70 trillion global retirement savings deficit. These ideas are part of Mercer’s ongoing commitment to exploring ways of improving financial security for individuals.
Through four main themes, Mercer explores innovative responses to what Jacques Goulet, President of Health and Wealth, Mercer refers to as, “one of the greatest crises of our time, for which there is no silver bullet.” Mr. Goulet believes that the issue of financial security is not just about retirement but instead about broader financial wellness concerns that plague individuals at varied life stages. These financial concerns undermine social and employment productivity, challenging people to think differently.
“We do not believe that this is merely a ‘retirement savings matter.’ The retirement savings gap is part of the significant financial security issue that is chipping away at productivity and putting individuals into periods of financial instability,” said Mr. Goulet. “Helping to find solutions to this problem goes to the core of our mission at Mercer, our offerings and our extensive research and data in this area.”
According to Mr. Goulet, financially secure individuals are confidently able to set and achieve financial goals for themselves and their households, to support their dependents, to enjoy a desired quality of life, and to cover emergencies, without worrying about whether their future income is enough to cover expenses or to sustain retirement.
Through “Bold Ideas,” Mercer outlines the importance of multiple stakeholders coming together to take meaningful action against the savings deficit. Stakeholders include governments, employers, and financial intermediaries, all of whom have the incentive and the ability to help mend the long-term savings gap. Each group also stands to benefit by helping to ensure that their citizens, employees, and customers are able to save efficiently and appropriately for the future.
The paper details the main challenges causing the long term savings gap, including:
- Longer lives combined with lower birth rates
- Lack of easy access to pensions and savings products
- Individuals ill-prepared for greater financial responsibility in retirement
- Lack of trust in financial markets and products
- Low growth environment
- Gender imbalance in long-term savings
Mercer has an ongoing mission to advance global financial security through strategic relationships with world renowned organizations like the World Economic Forum. Mercer is the lead collaborator on the World Economic Forum’s Retirement and Investment Systems Reform Project. In partnership with the Forum, Mr. Goulet has presented research findings to global leaders on the current state of global retirement systems and the importance of multi-stakeholder collaboration. Additionally, Mercer has a wide array of offerings aimed at resolving financial wellbeing challenges including the Mercer Financial Wellness and Harmonise™ platforms, among other solutions.
“Success will require bold and immediate action. Given the current size of the retirement gap, all relevant stakeholders need to act now,” said Renee McGowan, Global Head of Individual Retirement Solutions and Financial Wellness, Mercer. “Public and private sector individuals need to work together to create a cultural revolution that engages individuals in saving for the long-term, shifting the concept of ‘saving’ from a financial services experience into a consumer one. People need to understand what ‘good’ looks like when it comes to savings products, advice, and decisions. But they also need to have the confidence to act on their knowledge to achieve the best outcomes.”
To learn more about Mercer’s “Bold Ideas” and about Mercer’s work on financial security, go to www.mercer.com/our-thinking/wealth/bold-ideas-for-mending-the-long-term-savings-gap.html
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.
References to Mercer shall be construed to include Mercer LLC and/or its associated companies.
© 2017 Mercer LLC. All rights reserved.
Alayna Francis, 212-345-1315
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Wealth Dynamix (WDX) Ranks No.18 in the 2017 Tech Track 100 by the Sunday Times and 19th Fastest Growing Technology Company in the UK in the 2017 Deloitte Technology Fast 5023.11.2017 08:00 | Pressemelding
WDX ranks No.18 in the 17th annual Sunday Times Hiscox Tech Track 100 league table league which consisted of the top 100 private technology, media and telecoms (TMT) companies in Britain. WDX recorded a 155% average annual sales growth per year over the last 3 years with sales reaching £6.4M in September 2016 and £9m by end of September 2017. More recently, in November 2017, WDX also announces ranking No.19 in the 2017 Deloitte UK Technology Fast 50, a ranking of the 50 fastest growing technology companies in the UK. Rankings are based on percentage revenue growth over the last four years of which, WDX grew 1,563% during this period. WDX attributed this revenue growth to the team’s hard work and the positive change in attitude toward technology in the Wealth and Investment Management industry. WDX’s CEO, Gary Linieres credits the team with the company’s revenue growth. He sa
Mobidiag Signs Agreement with Interlux for the Distribution of Amplidiag® Diagnostic Tests and Instruments in Estonia23.11.2017 07:00 | Pressemelding
Mobidiag Ltd, a Finnish molecular diagnostics company, today announced a distribution agreement with Interlux OÜ, supplier of technologies for medicine, science and biotechnology industry. Under this agreement, Interlux becomes the exclusive distributor of the Amplidiag® product line in Estonia, in vitro diagnostic tests and compatible instrument for the detection of gastrointestinal infections. “Thanks to a large distribution network, our Amplidiag product line is now accessible in most Western European countries. This new distribution agreement allows us to introduce the Amplidiag product line to the Baltic region starting with Estonia. We are then very happy to start this new partnership with Interlux to support us in this new market”, said Miquel Vernet, CCO at Mobidiag. “Cooperation with Mobidiag offers the customers of Interlux high-quality diagnostic results. I believ
OCP Announces Date of 2017 Third Quarter and Nine Month Results22.11.2017 16:59 | Pressemelding
OCP S.A., a global leader in the fertilizer industry, will release its third quarter and nine month 2017 results on Thursday, November 30, 2017. The results will be available to holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers on the OCP Intralinks portal at 9 a.m. EDT and 2 p.m. Morocco/London time. OCP senior management will host a conference call to discuss 2017 third quarter/nine month results at 10 a.m. EDT and 3 p.m. Morocco/London time on Thursday, November 30, 2017 for holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers. Eligible parties that have not already registered for access to the Intralinks portal may do so by contacting the Investor Relations Department by emailing email@example.com. About OCP OCP is a global leader in the fert
Tata Motors Charts Out 'Connecting Aspirations' As Its New Corporate Brand Identity in Global Markets22.11.2017 14:46 | Pressemelding
As part of the company’s transformation journey undertaken in 2016, Tata Motors commenced a comprehensive project to articulate its corporate branding. Basis a thorough analysis of the existing and the desired future state of the Company, Tata Motors has defined its new brand identity as ‘Connecting Aspirations’ across 46 markets, internationally. ‘Connecting Aspirations’, as the new defining maxim, represents the personality of the brand as an interconnected system of mobility solutions, that are intelligent, perceptive, warm and expressive. It’s a symbolic tagline that represents the company’s past, present and future. It is humble yet bold, a statement as well as a challenge. It will define the way Tata Motors communicates with its internal as well as external stakeholders, and work as an all-encompassing guiding principle across business units.” Speaking on the
NelsonHall Positions L&T Technology Services in the Leaders Category for IoT Services22.11.2017 13:50 | Pressemelding
L&T Technology Services Limited (NSE: LTTS), a leading global pure-play engineering services company announced that it has been positioned in the Leaders Category by independent global research firm, NelsonHall in its latest NEAT evaluation for Internet of Things (IoT) services providers. LTTS is the only global pure-play engineering services to be positioned in the leader’s category. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171122005331/en/ L&T Technology Services Capabilities across IoT Services. (Graphic: Business Wire) LTTS has been identified as a leader relative to its peers’ due to its ability to meet future client requirements as well as deliver immediate benefits to IoT Services clients. Dominique Raviart, IT Services Practice Director, NelsonHall said, “L&T Technol
Smithers Viscient Europe Appoints Alasdair Clipston Director of Chemistry.22.11.2017 10:30 | Pressemelding
Smithers Viscient, a global contract research organisation (CRO), announced the appointment of Alasdair Clipston to the role of Director of Chemistry. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171122005035/en/ Smithers Viscient Europe Appoints Alasdair Clipston Director of Chemistry. (Photo: Business Wire) Clipston joins Smithers with 15 years spent within contract research and testing organisations including AstraZeneca and Charles River. “Alasdair brings great knowledge and experience to our operational leadership team, particularly in residue and physical chemistry including five batch analysis.” said Steve Dean, Managing Director, Smithers Viscient Europe. Dean continues, “His skills and passion for science coupled with excellent client relationships and strong business unde
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom