2024-11-10-WTW-全球养老金金融观察-2024年第三季度（英）_13页_442kb

Global Pension Finance Watch Summary: Q3 2024

In the third quarter of 2024, the WTW Pension Index showed mixed results due to a combination of positive asset returns and increased liability values from lower discount rates globally. While asset performance was favorable in most regions, liability growth dominated, leading to net declines in the index for several areas.

Key Findings:

• Index Movements: Brazil, Canada, and the U.K. experienced modest positive changes in the Pension Index. Conversely, the Eurozone, Japan, Switzerland, and the U.S. saw decreases, with the U.S. recording a 1.5% drop.
• Factors Contributing to Change: Asset returns were positive in all regions except Japan (which saw a 1.6% decline), while liability increases were driven by lower discount rates and interest accumulation.
• Regional Details: Most countries faced higher liabilities due to reduced discount rates, offsetting asset gains in some cases.
• Recommendations: WTW advises daily monitoring of funded status and risk management strategies, emphasizing that multinationals benefit from understanding complex risks and systematic approaches.

Methodology Note: The WTW Pension Index tracks the ratio of asset market value to projected benefit obligation (PBO) for benchmark plans, based on standardized but simplified assumptions. Currency fluctuations and local regulations may impact results, but the focus is on capital market effects for pension financing.

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