international association of financial insurance

The world is experiencing an unprecedented demographic shift brought about by declining birth rates and rising life expectancy. This rapidly progressing demographic change leads to a widening gap between the social security contributions collected and the pension payments made, which increases the burden on public finances. Most governments have therefore engaged in pension reforms to increase the sustainability of their public pension systems. While these reforms have generally proved to be effective, they have also resulted in lower expected pension benefits. IAFI engages with policymakers to highlight the important role that insurers — as significant providers of long-term savings and pensions products — can play in addressing these challenges and to advocate prudential regulations and policies that do not undermine this critical function.