Improving Financial Security in Retirement

Retirement security is a global challenge, and both advanced and emerging economies have made significant progress in recent years to close the ‘’savings gap’ by promoting pension savings and incentivising savers to accumulate wealth for later years. However, as longevity rises, and the global transition from defined benefit (DB) to defined contribution (DC) pensions takes hold, the real challenge becomes not just undersaving - but running out of savings, combined with the possibility of individuals making ill-informed financial decisions at the payout stage of retirement.

Against this background, interest in protected lifetime income solutions is increasing among policymakers, retirement providers and future retirees. As well as addressing retirees’ fears of outliving their savings, well designed lifetime income solutions create ‘’licence to spend’ with positive knock-on effects for economies and capital markets.  Realising these benefits will require a stronger partnership across public and private sector, with employers, financial service companies and policymakers working together to drive innovation and help protect outcomes for pre-retirees and retirees.s digitalisation and the roll-out of 5G networks around the world puts more vehicles on the road that are always connected and continuously updated, this 60-minute digital dialogue, in association with Ericsson, will address these questions, and more, as manufacturers find ways to best position themselves to capture the value of this technology, and the explosion in data it is producing. 

This Financial Times Breakfast Briefing, held in partnership with Prudential Financial, will explore the changing retirement landscape and share insights and best practices from countries globally that have been grappling with the issue of turning lifetime income concepts into effective policies, products and services.

Securing Income for Longer Lives 

How can annuities and other lifetime income solutions support financial security in retirement and address the risk of individuals outliving their savings? 

Making Lifetime Income Work in Practice 

What are the concerns of providers and savers regarding lifetime income solutions, and how can policymakers and the private sector work together to drive innovation and expand uptake? 

Defaults, Incentives and Better Decisions 

What role should default lifetime income options, regulatory and tax policies, and financial education play in promoting informed decision-making at the retirement payout stage? 

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