BlackRock and Microsoft to Reimagine Retirement
December 13 2018 - 11:00AM
Business Wire
Firms aim to help millions of Americans with
their retirement planning needs, from saving to spending
BlackRock and Microsoft are reimagining America’s path toward
achieving greater financial security in retirement. Bringing
together BlackRock’s investment capabilities and Microsoft’s
technology strength, the two companies are jointly exploring next
generation solutions to help more people make better decisions as
they work toward their financial goals in retirement.
The traditional pension system that generations of workers
depended on for lifetime income has been upended, leaving millions
of people with the responsibility to plan for and fund their own
retirement. Today, many people are struggling with the difficult
tasks of saving, investing and spending their own retirement
assets. This shift in responsibility, from corporations to
individuals, combined with ever increasing life-spans, has created
a need to reimagine a new approach to securing a sound financial
future in retirement – one that is powered by innovative investment
solutions and the most advanced, trusted and cutting-edge
technologies.
Technology is already revolutionizing entire industries and the
way people interact with everything from health care to education
and transportation. And yet, retirement solutions of today have
been slow to keep pace. Taking advantage of Microsoft’s
cutting-edge technologies and innovative investment products from
BlackRock, the companies aim to make it easier for people to both
save for retirement and achieve the lifetime income they need
through their employers’ workplace savings plan.
The companies are exploring the development of a new platform
that helps people develop better saving and investing habits
through more regular engagement with their retirement assets so
that they have a clearer picture of how their contributions today
will translate to long-term retirement income. BlackRock intends to
offer the platform in connection with next generation investment
products that it will design and manage. The new products from
BlackRock will seek to provide a lifetime of income in retirement
and would be made available to U.S. workers through their
employers’ workplace savings plan.
“Retirement systems worldwide are under stress and providing
financial security to retirees has become one of the most defining
societal challenges of our time,” said Laurence D. Fink, Chairman
and CEO of BlackRock. “BlackRock has a tremendous responsibility to
help solve this challenge, and we recognize the need to act now.
Working with Microsoft will enable us to build a powerful solution
for millions of hardworking Americans.”
“Today millions of Americans are struggling to achieve their
financial goals for retirement,” said Satya Nadella, CEO of
Microsoft. “Together with BlackRock we will apply the power of the
cloud and AI to introduce new solutions that address this important
challenge and reimagine retirement planning.”
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to our clients, we provide the solutions they need when
planning for their most important goals. As of September 30, 2018,
the firm managed approximately $6.44 trillion in assets on behalf
of investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com.
About Microsoft
Microsoft (Nasdaq “MSFT” @microsoft) enables digital
transformation for the era of an intelligent cloud and an
intelligent edge. Its mission is to empower every person and every
organization on the planet to achieve more.
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BlackRockJessica
GreaneyJessica.Greaney@BlackRock.com(212)
810-5498MicrosoftWE Communications for
Microsoftrapidresponse@we-worldwide.com(425) 638-7777
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