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Re-Inventing The Retirement Landscape With Hybrid Pension Plans

Today, with people living longer, rising healthcare costs, and poor savings culture, retirement is a looming crisis for most. Moreover, employers moving away from offering guaranteed retiral benefits have mostly shifted to defined contribution plans. Considering the importance of a secure retirement and the magnitude of the problem, all stakeholders are responsible for actively working towards a solution. In this context, hybrid pension plans can emerge as a game-changer, tackling many challenges of the current crisis, right from savings motivation to retiral income. Additionally, the composition and rules of such a hybrid pension plan are paramount to achieve success. This paper discusses a ‘golden rules’ driven hybrid pension plan which guarantees retiral benefits that are not only progressive but also contingent on defined contributions.

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