4 Underlying these trends there are well-known structural factors, such as those reviewed in the G10 Report. Ageing populations and the shrinking coverage provided by public pension systems call for an increase in the pool of resources channelled to capital markets to provide for retirement.
In several countries changes in labour markets and concerns about future pension liabilities are prompting employers to close DB plans and offer DC plans instead. These profound structural changes in pension systems imply that the sources of retirement income in the future will differ considerably from those of current retirees.