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A major global crisis
is threatening the 3 pillars of pension systems.

01
Social security benefits
02
Occupational pension plans
03
Individual retirement accounts
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Why?
Demographic imbalances, driven by increases in life expectancy.
Consequence? Individuals will fail to achieve adequate levels of replacement income in retirement. dotted-line
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Retirement Products

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“Security without liberty is prison”
Benjamin Franklin
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Insurance Products
such as annuity-type contracts, provide security without flexibility. In particular, they are subject to high surrender charges and do not allow for wealth tranfer to heirs.
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Investment Products
such as target date funds (TDF), provide flexibility without security. In particular, they do not allow individuals to secure target levels of replacement income in retirement.
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THE SOLUTION

Flexicure

(Flexible & Secure) Retirement solutions
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Introducing

retirement bonds

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What are they exactly?
A portfolio of fixed-income securities,
providing same cash flows as annuities, bearing the same costs but without being irreversible. Designed for the first 20 years of retirement.
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In parallel, a deferred annuity
taking care of the retirement period.
Less expensive than the annuity
covering the whole period.
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Replacement income needs = annuity cash flows = retirement bond cash flows + deferred annuity cash flows
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Improved

Target Date Funds

The retirement bond can be used to improve multi-asset investment strategies. To construct an improved form of target date fund mixed with equity for instance.
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Results are compelling : an improved target date fund mixed with equity has more chances to reach any objectives than the standard fund.
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Our ambition : launch 2nd generation target date funds that offer both flexibility and security with respect to individuals' replacement income needs in retirement…
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... and that can be used as part of the solution to the global pension crisis.
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