Global pension assets have grown significantly to $54trillion, the Chief Executive Officer of the World Pension Summit (WPS), Mr. Chris Battaglia disclosed.
Battaglia, made the remark at a media conference in Lagos, ahead of the third World Pension Summit ‘Africa Special’ expected to take place in Abuja between September 27th and 28th, 2016.
According to him, in a lot of developed countries, pension assets are now more than 100 per cent of Gross Domestic Product (GDP). “Global retirement assets are growing in size and volume and a shift from defined benefits to defined contribution.
In most developed countries, pension assets have also grown in relation to their economies. With great assets come greater responsibility. Assets of the 300 pension funds globally averaged nearly $14trillion,” he added.