US - Democratic presidential candidate Senator Barack Obama has his outlined plans to strengthen social security, in a roundtable with Las Vegas residents.
Barack wants to create automatic workplace pensions to make it easier for Americans without employer-based retirement plans to save.
He has also said he will ensure private companies properly fund their pension plans and reform bankruptcy laws.
Obama spoke to six residents, some who raised concerns that their employers could file for bankruptcy in the future, eliminating all of their benefits in the process.
"Today, even if you work hard and play by the rules, you risk losing everything if your company goes bankrupt," said Obama.
"Instead of protecting your pension, our laws protect banks by making it easier for companies to shed their obligations to retired workers. It's time for that to change."
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.