With all that disruptive innovation and the need to rethink retirement and pensions in a disruptive world, the pensions industry is facing a massive challenge being hit by different interest groups. With the ageing population needing more sophisticated health care, people living longer beyond their savings, and the low investment returns, SMART Pensions is the only way to go. But how?
All stakeholders in the pensions market including the governments, pension funds managers and the insurance industry have to actively get together and stay connected to the speed of change. They have to find long-term comprehensive solutions that guarantee secure, viable and sustainable pensions. There is an urgent need to engage young millennials and senior citizens to ensure that pension schemes are relevant as genetics and technology add the twist to living longer with a stress on healthcare for the ageing population.
There is also the need to change the retirement mindset on all fronts and fill the protection and savings gaps for all. It is all about the industry renewing itself to “Reinvent & Rethink Retirement in A Disruptive World” to be SMART.
With this focus, Asia Insurance Review’s Asia Conference on Pensions & Retirement Planning this year will review the various national pension schemes around the world and draw lessons to find real solutions. The two-day Conference will look at the latest pension reforms and renewals, the critical issues of ever increasing costs and the security of pension provision, including regulatory, financial, technology, longevity issues and health and wealth management solutions and strategies for a successful retirement for all. There will be separate strategic dialogue panels that draw in pension and insurance regulators as well as insurance CEOs and pension funds operators.