Pandemic compounds retirement plan challenges

An Organization for Economic Co-operation and Development report states that the COVID-19 pandemic has compounded the challenges facing retirement savings and pension arrangements, Pensions Age Magazine reported. According to the report titled ‘OECD Pensions Outlook 2020’, pressures that existed before the pandemic such as ageing populations, low growth, low returns and low-interest rates will continue “long into the future” as a result of the pandemic.

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