Real-World Shocks and Retirement System Resiliency

Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Growing awareness of real-world shocks including market downturns, health surprises, and labor market readjustment is calling into question the ability of global retirement systems to remain healthy and sustain future retirees. Financial and labor market stresses are shaping how older workers fare as they head into retirement, and how younger workers must prepare financially for their futures. These shocks come on top of long-standing concerns surrounding rising longevity, along with the adequacy and sustainability of public and private benefit systems. This volume explores how these challenges will drive the need for new policy drawing on perspectives of senior and new researchers to the field, as well as exciting new datasets.