全球养老金金融观察2024年第二季度（英）（英译中）

Investment Rating - The report indicates a positive trend in the WTW Pension Index across most regions, with the exception of Switzerland, highlighting a generally favorable investment environment for pension funds [1][2]. Core Insights - The WTW Pension Index reflects the ratio of asset value to projected benefit obligations (PBO), showing a significant increase in discount rates across all countries except Switzerland, which positively impacts pension funding status [2][25]. - The report emphasizes the importance of monitoring pension funding status and financial indicators to inform key business decisions, especially in light of recent market volatility [1][4]. Summary by Sections Global Pension Financial Overview - The report reviews capital market performance and its impact on fixed-income pension plan funding, focusing on asset/liability outcomes across various countries including Brazil, Canada, Eurozone, Japan, Switzerland, the UK, and the US [3]. - It notes that all countries, except Brazil and the UK, achieved positive asset returns in Q2 2024 [6]. Investment Returns and Liability Growth - Investment returns for Q2 2024 showed positive results in all countries except Brazil and the UK, with the US achieving a return of 1.3% [6][12]. - The liability growth factor presented mixed trends, with Brazil and the Eurozone experiencing declines of -5.2% and -4.3% respectively [8]. Benchmark Discount Rates - The benchmark discount rates increased across all countries except Switzerland, with Brazil's rate reaching 10.76% in June 2024 [7][10]. - The report highlights the impact of interest accumulation on reducing liabilities, contributing to the overall pension index increase [10][18]. Overall Pension Index Movement - The overall pension index increased by 4.7% in Q2 2024, driven by the combined effects of asset performance and liability changes [11][18]. - The report indicates that the pension index reflects the ongoing adjustments in response to market conditions and financial assumptions [26].