In the Media

In an article for the Financial Times, Prof. Robert Merton underscores the importance of providing workers with financial security in retirement and explains Selfies (Standard-of-living indexed, forward-starting, income-only securities), a pension-like bond innovation he helped create. “More such innovative instruments from academics, politicians and others are needed if we are to ensure more people can retire with resources that can withstand inflation and provide the security they need,” Merton writes.