全球养老金金融观察——2025年第四季度（英）

Global Pension Finance Watch – Fourth Quarter 2025 Results as of December 31, 2025 Positive Fourth Quarter Index Results All major regions saw increases in the pension index over the fourth quarter, driven by positive investment returns globally, combined with decreases in liabilities in most regions. Brazil and U.K. were the only regions where liability values decreased. While it is always the case that the Global Pension Finance Watch captures results at the end of each quarter, we particularly want to hi ...