CEO John Strangfeld talks retirement security with Fox Business reporter Maria Bartiromo in Saudi Arabia Chairman and CEO John Strangfeld joined some of the most prominent names in investing at The Future Investment Initiative conference in Riyadh, Saudi Arabia this week.
Strangfeld appeared on a panel titled, “The Wish List: What Do Investors Want from Policy Makers?” moderated by Rob Cox, global editor of Reuters Breakingviews. In his comments, Strangfeld discussed the impact of the unprecedented pace of global aging on individuals and institutions, the challenges and opportunities it presents, and how the public and private sectors can partner to help more people achieve retirement security.
Prior to his panel appearance, Strangfeld was interviewed in a live broadcast by Maria Bartiromo for her “Mornings with Maria” segment on Fox Business News. Bartiromo covered a range of topics, from the prospects for tax reform in the United States to the recent debate in Washington, D.C., about potential changes to limits on 401(k) contributions.
Strangfeld cited some of the factors that make planning and saving for retirement so challenging. “We have an aging population—not only in the U.S., but in many countries—and shrinking social safety nets. Corporate employer plans are less generous than they once were, and people are living longer… It’s a big challenge for people to maintain their quality of life in retirement,” he said. “The more we can do to have public policy that aligns with people’s objectives in achieving that is really critical. We need to have more incentives to encourage people along the way.”
Many of the points Strangfeld shared during the interview and panel reflected unique insights from PGIM’s “A Silver Lining: Investment Implications of an Aging World
” white paper, which examines the profound consequences that the aging of the global population will have for individuals, businesses and governments, and the opportunities those present for long-term investors.