From Crisis to Recovery - Pensions and the Crisis


Pension fund assets dropped from by over $5 trillion from $27 trillion during the crisis. The losses to benefits as a consequence will not affect all participants in pension funds equally, with older workers suffering most, while those in defined-benefit plans probably better off. Even before the crisis, though, there were calls to reform pensions.


© Richard Villalon -

Chapter 5 looks at the impact on pensions: the crisis highlighted issues in both funding and benefits that population ageing and changing career patterns could aggravate.

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