Fintech and Retirement Savings – Contact Points

Abstract

Digitalization has emerged as the primary force reshaping the financial sector in recent years. While certain areas of finance have rapidly embraced technological change, retirement planning has been slower to adapt. This report examines the digital transformation of the private retirement sector, analysing a broad spectrum of fintech solutions - including robo-advisors, chatbots, pension dashboards, gamification, smart contracts, and algorithmic trading - and their potential to improve retirement investment operations and enhance member engagement.

Focusing on the case of Bulgaria, where financial literacy remains below the European average and retirement savings are predominantly managed through defined contribution (DC) schemes, the report illustrates how these technologies can facilitate more personalized, efficient, and informed retirement planning. It also explores the blockchain - driven revival of the tontine concept, alongside the growing convergence of digitalisation and sustainability in the financial sector.