Investments

BlackRock and Microsoft to Reimagine 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 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.”