Each year, BlackRock, the world’s largest asset manager, sends a much-anticipated letter to leading CEOs. This year, chief executive Larry Fink’s focus was on why it is imperative for business to contribute to society. One of the first big issues he highlighted was retirement:
“Many (individuals across the world) don’t have the financial capacity, the resources, or the tools to save effectively; those who are invested are too often over-allocated to cash. For millions, the prospect of a secure retirement is slipping further and further away — especially among workers with less education, whose job security is increasingly tenuous. I believe these trends are a major source of the anxiety and polarization that we see across the world today.”
