Retirement systems are undergoing a structural shift as traditional pensions decline and individuals take on greater responsibility for financial outcomes. Longer lifespans and evolving capital markets are making retirement planning more complex and consequential. In this episode of The Bid, Oscar Pulido speaks with Nick Nefouse, Global Head of Retirement Solutions at BlackRock. They discuss how defined contribution plans, target date funds, and regulatory changes are reshaping how individuals save, invest, and prepare for retirement. The conversation explores how retirement is moving from a focus on accumulation to income generation, particularly during the “retirement window.” It also highlights how global systems are converging toward similar models, and how innovation—across portfolio construction, private markets, and guaranteed income—is influencing long-term outcomes. Key insights: • How the shift from pensions to defined contribution plans is changing investor responsibility...