Our Global Retirement Reality Report (GR3) captures people’s hopes, fears, expectations, and experiences surrounding retirement.
This 2018 survey spans eight countries, with 9,500 respondents at various stages of their retirement journey.
Here, we will focus on retirement income solutions, specifically, how people plan to make — or are making — savings last in retirement.
Setting the Stage: The Spectrum of Defined-Contribution (DC) Dependence
The eight countries surveyed are at varying stages of DC dependence, defined here as how central to saving and long established DC schemes are in a given marketplace. Countries that are less DC dependent are in the transition from a defined- benefit (DB) model toward a structure that puts more retirement readiness responsibility on the individual. Countries that are more DC dependent have been oriented around an individual saver structure for decades. We also use this spectrum to highlight key plan dimensions by country.