As we have seen in the previous articles in this series, more and more defined benefit (DB) pension scheme members are taking advantage of current flexibilities and attractive value being placed on their benefits to transfer to defined contribution (DC) schemes.
To round off our latest insight, we outline what members can expect from their DC benefits and how we anticipate this activity to evolve over the coming years.
- The types of schemes members can transfer to
- The search for income that members face
- The future evolution of decumulation strategies.
Whilst there is unlikely to be a silver-bullet retirement income solution, it is clear that post-retirement solutions will need to encapsulate a broad range of design features covering investment risk mitigation, longevity protection, member engagement and guidance.
Please contact Sonia Kataora if you would like to discuss any of the above topics in more detail.
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