Much attention in compensation strategy is focused on the corporate sector, and on how pension funds should exercise their say on pay responsibilities as investors in that sector. In contrast, little is been written on how pension funds should pay their own people. This article draws a number of...

Traditional DB and DC pension plans have both become dysfunctional, as have attempts to “prove” that one is superior to the other. Far better that we should devote our energies to designing a new breed of pension plans, adapted to twenty-first-century realities. Such plans strike an...

Accused of changing his mind, the great economist John Maynard Keynes is said to have retorted, “When the facts change, I change my mind. What do you do?” In that spirit, the articles in this issue of the Journal challenge conventional pension design and management thinking in important ways