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The retirement income landscape has changed significantly in recent years, giving people and their advisers greater freedom. But with greater freedom comes greater responsibility.

Investment strategies that work in the accumulation phase (climbing the mountain) may not make sense in the decumulation phase (descending the mountain).

Drawdown gives people flexibility with their pension funds but it also brings exposure to all the longevity and investment risks that were previously borne by insurance companies and employer pension schemes.

Unless these are addressed, people’s pension funds are unlikely to last as long as they do.

And it’s an issue that could affect more people. Figures published by the Office of National Statistics in May 2018 show the number of people in England aged over-65 is projected to grow by 19% between mid-2016 and mid-2026.

Our De-risk Decumulation initiative will bring you new insight, ideas and concepts to help you develop effective retirement income strategies for your clients.