WTW-2022年国际养老金计划调查（英）-23页_2mb

International Pension Plan Survey 2022 Summary

Core Content

The International Pension Plan Survey 2022, conducted by WTW, provides an overview of the current state and trends of International Pension Plans (IPPs) and International Savings Plans (ISPs) across the globe. The survey includes data from 951 multinational employers, covering 1,009 IPPs and ISPs with total assets under management (AUM) estimated at US$18.4 billion, representing a 7% increase from the previous year's US$17.2 billion.

Key Trends and Developments

• ESG Investment Considerations: A growing number of IPPs and ISPs are incorporating ESG (Environmental, Social, and Governance) principles into their investment fund ranges.
• Sovereign Debt Crisis: IPPs and ISPs are increasingly being used in countries facing high risks of government debt defaults, offering a safer alternative for managing employee savings.
• Expanding Membership: There is a noticeable trend towards extending IPP/ISP eligibility to include local employees, particularly in regions with underdeveloped local retirement markets or restrictive investment options.

Membership Categories

• Expatriates (52%): The largest group, often not covered by home or host country plans.
• Executives (21%): Typically top management, either as nomads or as incentives for international roles.
• All Local Employees (13%): Used in markets where local retirement options are limited.
• Other (14%): Includes legacy DB members and non-US employees not covered by other pension plans.

Geographical Coverage

• Global Plans (55%): Cover members worldwide.
• Europe (26%): A major region for IPPs and ISPs.
• Middle East (6%) and Asia (6%): Also notable, with a focus on protecting savings from local economic and political instability.

Plan Design Features

• Defined Contribution (DC) Plans (94%): Most common, with a trend away from service- and age-related contribution scales.
• Defined Benefit (DB) Plans (5%): Less common, typically closed to new members.
• Hybrid Plans (1%): Rare, often combining elements of DC and DB.

Vesting Criteria

• Immediate Vesting (75%): Most plans offer full vesting from the start.
• Phased Vesting (24%): More common than flat vesting, with employer contributions vesting gradually over 3–5 years.

Contribution Structures

• Flat Contribution Scale (74%): Dominant in newer DC plans.
• Service-Related (85%) and Age-Related (78%): Less common, with age-related scales becoming less popular due to discrimination concerns.
• Matching Contributions: 1:1 matching is the most prevalent, with only a small percentage offering 1:2 matching.

Contribution Amounts

• Employer Contributions:
  • Minimum: 5% to 9% of pensionable salary.
  • Maximum: 5% to 9% is most common, with some plans offering up to 14%.
• Employee Contributions:
  • Voluntary or non-contributory in most cases.
  • Minimum: 0% for 351 plans.
  • Maximum: 5% to 9% is the most frequently reported range.

Investment Options

• Fund Choices: Around half of the plans offer up to 10 investment funds, while others provide more than 40.
• Lump Sum Payments (55%): Most popular distribution method.
• Drawdown Options (39%): Increasing in popularity, allowing members to choose between lump sum and drawdown.

Plan Vehicle and Domicile

• Trust-Based Vehicles: Most popular for segregating and protecting member assets, especially in offshore locations.
• Contract-Based Arrangements: Also common, particularly in regions with historical aversion to trusts, such as the Channel Islands.
• Domicile Preferences: Luxembourg remains the top choice for contract-based plans, while the Isle of Man is the most popular for trust-based plans set up in the past five years.

Plan Size and Assets Under Management

• Membership Range: From fewer than 10 members to over 19,000.
• AUM Distribution:
  • Over 50% of plans have AUM less than US$5 million.
  • AUM ranges are spread across various levels, with some plans managing over US$500 million.

Technology and Member Experience

• Digital Integration: Providers are increasingly using technology to enhance administration and member experience, including mobile apps.
• Financial Wellbeing Services: Growing in importance to help members manage and grow their assets.

Conclusion

The 2022 survey highlights the continued growth and diversification of IPPs and ISPs, driven by the need for retirement and savings solutions for expatriates and local employees. DC plans dominate the market, with a shift towards flat contribution structures and trust-based vehicles. The inclusion of ESG considerations and the expansion of membership categories reflect evolving employer strategies and employee needs. Overall, the survey underscores the importance of flexibility and adaptability in international pension planning.