The UBS International Pension Gap Index

瑞银国际养老金缺口指数

The Bulletin with UBS

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2024-10-28

20 分钟
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The UBS International Pension Gap Index compares retirement systems across 25 markets based on the voluntary savings required from its participants. Its authors, James Mazeau and Elisabeth Beusch, explain why private savings are crucial to maintain an accustomed lifestyle in retirement. They explain how the index demonstrates the importance of planning and how investments can help close pension gaps.  See omnystudio.com/listener for privacy information.

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  • Hello and welcome to the Bulletin with UBS on Monocle Radio.

  • Each week, the sharpest minds and freshest thinkers in finance take you beyond the numbers and hype right to the heart of the big issues of the day.

  • This week we're discussing the UBS International Pension Gap Index.

  • The index compares retirement systems across 25 markets.

  • Based on the voluntary savings efforts required from its participants, the index reveals that private savings are crucial to maintain an accustomed lifestyle in retirement in many systems.

  • Further, it showcases the importance of retirement planning and stresses that investments can often help close pension gaps.

  • Today on the program, we will hear from the authors of the index, James Mazzeau and Elizabeth Boysh, who will help you to consider whether your pension is enough to finance the life you're used to living.

  • They'll address this and unpack the belief across UBS that harnessing the power of investing can improve retirement outcomes to everyone's benefit.

  • It's a pleasure to welcome two economists with UBS in Switzerland, James Mazzeau and Elizabeth Boish, authors of the Pension Gap Index, to the show.

  • Welcome to you both.

  • First up, as a headline, just remind us what exactly this index and this sort of research, what it exists, maybe.

  • Elizabeth, I'll come to you.

  • First of all, give us some context for this piece of work before we get into the detail.

  • So from our experience, mostly talking to people in Switzerland, what we notice is that pension systems are very hard to understand for people.

  • So one aim is that we want people to understand our pension system.

  • Why is that so important?

  • Because once you understand your pension system, once you understand what benefits you will receive from it, then then you can plan for your retirement, because once you know how much you get, you can compare that to how much you need for the lifestyle that you desire.

  • And often there's actually a gap in there.

  • So usually the benefits will not be sufficient and you need private savings to make up that gap.

  • And so what we want is to raise awareness for that and make people understand the challenges that they might face in terms of income if they don't prepare for retirement.