韦莱韬悦（WTW）：2025年第四季度全球养老金金融观察报告（英文版）

Global Pension Finance Watch, published quarterly, reviews how capital marketperformance affects defined benefit pension plan financing in major retirementmarkets worldwide, with a focus on linked asset/liability results. We cover definedbenefit pension plans in Brazil, Canada, the Eurozone, Japan, Switzerland, theU.K. and the U.S. Specific plan results will vary, often substantially, based onliability characteristics, contribution policy, portfolio composition and managementstrategy among ot