DC pension decumulation
As the retirement landscape continues to evolve, we help clients centre the wants and needs of defined contribution savers looking for a sustainable retirement income.
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Why Hymans?
Scheme members no longer just have one choice to make when they retire – instead, they have to make a series of decisions throughout retirement based on how they want to use their pension savings.
However, many defined contribution (DC) savers don’t really understand their retirement needs. They lack confidence when it comes to navigating the market and making good choices. This, coupled with the fact that a high proportion of DC savers are currently under-saving, means there’s an increasing risk of pensioner poverty and retirement regret.  
The industry is tackling this by introducing a range of support services and decumulation solutions, making it easier for you and your members to access them. 
Employers and trustees need to ask some searching questions:
- Which approach best suits your risk appetite and people strategy?
- What solutions will make a difference for your members?
- How can you help your members make better decisions?
- Where can you add value to improve outcomes? 
As a leading independent adviser, we give employers and trustees strategic advice to help support their DC scheme members and help them build better, more sustainable, futures. 
Making retirement outcomes more sustainable
Our team has helped build better futures for over 10million UK pension scheme members.
Helping pensioners
Our research shows that 75% of DC savers aged 55 or over would find it helpful for their savings to automatically start paying them an income when they reached the point of retirement. Our research also shows members aren't sure hwo to use their pension.
Member confidence
According to our research, 41% of people aged 40-60 are not confident they’ll achieve their retirement plans.
Designing decumulation defaults
This paper looks at the design considerations that might shape a member centric default decumulation solution, something that can be a safety net for any member that does not actively engage with their retirement choices.
Opens in new window View researchPITstop with LawDebenture - DC decumulation
In this episode of PITstop, Rona Train is joined by Samantha Pitt to discuss DC decumulation.
Meet our team
Kathryn Fleming
Partner and Head of At-Retirement Services
Paul Waters
Head of DC Markets
Richard Allen
Head of Workplace Distribution, Personal Wealth
Rona Train
Partner and Head of DC Trustee Consulting
Brenda Kite
DC Platform Solutions Specialist
Alison Leslie
Partner, Head of DC Investment
Many DC savers have little or no knowledge of their own retirement needs. They often lack the confidence to navigate the market or to know they are making good choices.
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