There are various opportunities for the fund management industry to exploit the shift to individuals taking responsibility for their own retirement, according to Yoon Ng from Cerulli Associates.
Ng was speaking as part of panel discussing the funding of retirement in Europe at the Association of the Luxembourg Fund Industry conference last week.
Ng, along with her fellow panelists, said that one of the key issues facing the European pension landscape is the growing ageing population.
She said: “Reform is multi-faceted because of the divergent starting points of different European countries, but has broadly taken the following forms: government cutting back on pay-as-you-go state pensions; employers converting pension schemes from defined contribution to defined benefit; and the creation of new pension savings vehicles. The shift towards defined