WTW-全球养老金金融观察——2023年第二季度（英）-13页_293kb

Global Pension Finance Watch Q2 2023 Summary

Second Quarter Overview: Q2 2023 was more volatile than Q1, with mixed results across regions. Discount rate movements were moderately negative, except for the U.K. and U.S., while asset performance was moderately positive overall but negative for the U.K. Inflation subsided but remained a factor. The combined effects led to modest, negative pension index changes for all countries except the U.S. and Japan.

Regional Performance:

• Brazil, Canada, Eurozone, Switzerland, U.K.: Experienced negative pension index changes, with Q2 changes ranging from -6.2% to -2.1%, and last 12-month changes from 1.6% to -2.8%.
• Japan and U.S.: Showed positive changes, with Q2 increases of 5.3% and 4.9%, respectively.
• Asset and liability factors varied, with most regions seeing increased liabilities due to discount rate declines and interest accumulation, impacting funding status negatively except for Japan and the U.S.

Monitoring and Risk Management: Organizations that monitor pension plans daily are better prepared for market changes and can effectively manage costs and risks. WTW recommends a systematic, multi-local approach to risk reduction, including monitoring financial markets, legislation, and practices.

Methodology Notes: The WTW Pension Index tracks the funded ratio based on benchmark plans, using local currency and accounting standards. It reflects asset and liability performance, with variations due to portfolio composition, liability characteristics, and contribution policies. Currency effects and regulatory differences may influence results.

For detailed data, refer to the full report.