Dimensional Retirement's Robert C. Merton recently gave the keynote speech—The pension challenge—balancing ends and means—at the National Association of Pension Funds (NAPF) March 10, 2011 Investment Conference in Edinburgh. In this video, Professor Merton proposes a "next-generation" retirement plan design and discusses the implications of this proposed design for government policies, pension regulations, oversight systems, and corporate governance. Download the slides