Technology-based pension reforms needed in Middle East, expert says

LONDON: Reforms are needed to rapidly modernize pension schemes in the Middle East to reflect the region’s demographics using technology pension products that are modern, contemporary, engaging and efficient to run, according to a UK-based expert.

There are a number of “themes” that flow through pensions within the region, according to Tim Phillips, managing director of Middle East and Asia affairs at Smart — a UK-based finTech company specialized in building technology for pension schemes around the world.