Jun 6, 2013

Larry Fink on the Australian model of compulsory retirement accounts

Superannuation has been a huge success in supplementing the government pension scheme and taking the strain off it - an attractive prospect as we think about how to relieve the burden on Social Security in this country.  The current system is broken, and we need a comprehensive solution to retirement savings that includes some form of mandatory retirement savings.

~ Larry Fink, CEO of BlackRock, asset manager with nearly $4 trillion under management, from a lecture given to business school students at New York University in May, "Retirement Saving Done Right," Bloomberg BusinessWeek, June 3, 2013

No comments: