Retirement systems are extremely complex social, economic, legal, and organisational structures. The authors of retirement systems are faced with a great number of dilemmas. The pension related expenditure has systematically been increasing in the developed world, also as a percentage of GDP,...

Financial systems worldwide are increasingly experiencing the mounting pressure of the technology-based financial innovations. Some of these developments are generating alternative financial structures existing parallelly to the "old" ones, whereas some others are simply replacing the "old"...