Allianz Global Investors AG's U.S. Pensions Study: Bad News/Good News.

NEW YORK -- U.S. investors can look forward to even more challenges to funding for retirement over the next ten years, according to a study from Allianz Global Investors AG (AllianzGI), one of the world's largest asset managers. Retirement at Risk: The U.S. Pension System in Transition substantiates the trend toward individuals bearing more responsibility for their retirement funding, as well as the dismal prospects for Social Security. The potential for funding shortfalls abound, with the current acute financial crisis, skyrocketing health care costs and limited access for many to employer-sponsored plans.

The study indicates, however, the U.S. pension market may be better off than that of other industrialized nations. At $17.3 trillion (figures are year-end 2007), the U.S. pension market is the largest, most developed in the world-- and is likely to remain dynamic as investors seek investment strategies that not only target returns but also provide risk management and features that factor in an individual's age, life expectancy and target retirement date. Intelligent decumulation strategies and sustainable spending patterns will be key. Despite challenges, AllianzGI calculates U.S. pension assets could reach $25.5 - $36 trillion by 2020.

"Current economic conditions may impact long-term pension saving by tempting people to draw down pension assets to alleviate financial hardships such as mortgage financing problems. However, even the most pessimistic scenarios foresee a large accumulation of pension wealth in the coming decade," states Brigitte Miksa, Head of International Pensions at Allianz Global Investors AG.

The AllianzGI International Pensions group in Munich, Germany provides thought leadership on pension trends worldwide. The group has released numerous reports on pension systems in various global regions, including developed and emerging countries throughout Europe and Asia Pacific.

To access a copy of Retirement at Risk; The U.S. Pension System in Transition, please e-mail [e-mail]

About Allianz Global Investors

Allianz Global Investors AG (AllianzGI), a subsidiary of Allianz SE, is a management holding company for a network of investment specialists in the most important institutional and retail markets around the world. Through PIMCO, RCM, Oppenheimer Capital, NFJ, Nicholas-Applegate and several other specialist firms AllianzGI offers its clients a broad variety of investment competencies, covering all equity and fixed income investment styles as well as balanced products and alternative investments. With 970 billion Euro Assets under Management (2007), AllianzGI ranks amongst the top investment management companies worldwide. Through its network of more than 4500 employees around the globe, including more than 900 investment professionals, AllianzGI is able to leverage local expertise and market knowledge to its clients all over the world.

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