Pension Revolution: A Solution to the Pensions CrisisISBN: 978-0-470-08723-7
Hardcover
368 pages
January 2007
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“This book is a valuable tool in raising awareness of the current climate and provides people with the information they need to create efficient pension solutions in the future." (Pensions World, May 2007)
—David Beatty, Managing Director, Canadian Coalition for Good Governance, Canada
"I discovered Keith Ambachtsheer's cutting-edge ideas and
thinking a decade ago, and only wish I had discovered him sooner.
Ambachtsheer offers intelligent and practical strategic thinking
about pension governance, benefit design, and investment policy. If
you are struggling with the pension crisis, you owe it to yourself
to read the Pension Revolution."
—David Blitzstein, Director, Negotiated Benefits Department,
United Food & Commercial Workers International Union,
U.S.A.
"Retirement plans are a critical part of both the social systems
and the financial systems of the free world. They are failing on
both counts. Turning failure to success will be no mean task, and
there is no better place to begin than Pension Revolution.
It demands your attention."
—Jack Bogle, Founder and Former CEO, The Vanguard Group,
U.S.A.
"Over the years, Keith Ambachtsheer has triggered pension funds
around the world with ground breaking initiatives like CEM and his
insightful 'Ambachtsheer Letters.' This book is no exception to
this impressive tradition. The issues raised in this book should be
in the forefront of the minds of trustees, pension professionals
and regulators. Pension Revolution will definitely be one of
the key contributions to the pension debate and the challenge to
design sustainable pension systems."
—Else Bos, CEO, PGGM Investments, The Netherlands
"Yet another revolution in pensions! This one is about the very
future of private pensions, their design, benefits, funding and the
distribution of risk. As we would expect from Keith Ambachtsheer,
this book combines perceptive and informed assessment of the issues
with a way forward. This is nothing short of Drucker's world
re-written for the twenty-first century."
—Gordon Clark, Professor of Geography and Director of the
Oxford University Centre for the Environment, Oxford
University,U.K.
"Financing retirement income has reached crisis proportions
around the world. Keith has thought as much as anyone about how to
best redeem and redefine societies' vital, yet frail structures for
delivering income to workers once they retire. Here in one place
you get the benefit of that accumulated wisdom."
—Richard Ennis, Co-founder and Chairman, Ennis Knupp +
Associates, U.S.A., and Editor, Financial Analysts
Journal
"I have known and worked with Keith for many years and look
forward to the next chapter in his analysis of the pension fund
business. I anticipate a thought provoking "solution" which will no
doubt impact how many of us think about our business going
forward."
—Nancy Everett, President and Chief Executive Officer,
General Motors Asset Management, U.S.A.
"While I don't necessarily agree with all of Keith's pension
revolution conclusions and proposed solutions, I do believe there
is great value in seriously considering the issues. This
thought-provoking book makes a substantial contribution to
promoting that highly desirable end result."
—Gary Findlay, Executive Director, Missouri State Employees'
Retirement System, U.S.A.
"A cure for pension ills? Founded on problems so well defined
and incorporating relevant factors so well described in his earlier
works, Keith's Pension Revolution is surely an excellent
prescription. Whether it is a cure is up to those of us with
oversight responsibilities."
—Michael Grandin, Corporate Director and former Dean,
Haskayne School of Business, University of Calgary, Canada
"Keith Ambachtsheer is one of the few pension thinkers
consistently worth (re-)reading. His writings push all stakeholders
towards clarity of purpose, governance, measurement, expression,
and execution. Ineluctably his TOPS model offers a new vision for
future pension deals."
—Jack Gray, Global Investment Strategist, GMO Australia
Limited and Advisor to Sunsuper, Australia
"When it comes to investment and pension funds, Keith has spend
more time than anyone thinking, researching, writing and talking
about how to get better investment performance and pension
outcomes. Pension systems around the world are at a crossroad. The
book is a must read for decision makers as well as plan
participants."
—Claude Lamoureux, President & Chief Executive Officer,
Ontario Teachers' Pension Plan, Canada
"No one in the world knows more about Pension Funds than Keith
Ambachtsheer. Pension Revolution exactly elucidates the
causes of the global pension crisis and offers a comprehensive
blueprint for pension reform."
—Burton Malkiel, Professsor of Economics, Princeton
University, U.S.A., and author of "A Random Walk Down Wall
Street"
"As a keen reader of Keith’s 'Ambachtsheer Letters', I
know his writings to be thought-provoking, bar-raising, and
innovative. His new book is a ‘must-read’ for anyone
involved in pension fund management. Putting his ideas in practice
will benefit pension plan members around the world."
—Roderick Munsters, Chief Investment Officer, ABP
Pensionfund, The Netherlands