March 26 (Reuters) - BlackRock ( BLK ) CEO Larry Fink

has urged the government and the private sector to ensure

Americans have enough money to retire and said the world's

largest asset manager would launch a product next month to

address the issue.

The "LifePath Paycheck" will go live in April, with 14

retirement plan sponsors aiming to make it available for 500,000

employees as defined contribution plans.

"America needs an organized, high-level effort to ensure

that future generations can live out their final years with

dignity," Fink said in an annual letter to investors on Tuesday.

BlackRock ( BLK ) manages the largest retirement funds in the U.S.

Fink said data from the U.S. Census Bureau's survey of

consumer finances in 2022 showed nearly half of Americans aged

55 to 65 reported not having a single dollar saved in personal

retirement accounts.

"Put simply, the shift from defined benefit to defined

contribution has been, for most people, a shift from financial

certainty to financial uncertainty," he added.

Defined contribution plans are retirement plans where the

employer, employee, or both make regular contributions of

specified amounts.