Multinationals are working through the biggest change in benefits strategy that we’ve ever seen.
Our major multinational clients asked us to carry out this survey because, like us, they’re increasingly concerned that the risks associated with their global retirement benefits outweigh their value to the organisation and its stakeholders. Competition has never been so fierce in the marketplace, meaning employers need to be at the very top of their game at a time when many are tackling a defined benefit (DB) legacy that could prove crippling.
The results of the survey confirm that DB arrangements are indeed a thing of the past and defined contribution (DC) plans are widely accepted as the preferred alternative. But large and dangerous legacy DB liabilities remain and employers aren’t yet satisfied that the optimal DC alternatives are in place. Our survey uncovers the thinking of major multinationals and the actions that employers are contemplating.
For the full survey findings and analysis, please click here.
shake-up of global retirement provision