DC Member Choice - At-retirement

The introduction of pension freedoms has undoubtedly changed the retirement landscape, introducing flexibility, but also risk. The focus now needs to be on how we deliver better outcomes and more sustainable futures for everyone. 

Scheme members no longer just have one choice to make at retirement but a series of decisions at and throughout their retirement, depending on how they choose to use their pension savings. However, many members 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. When this is coupled with the fact that a high proportion of DC members are currently under saving, there is an increasing risk of pensioner poverty or retirement regret.  

The industry is tackling this challenge by introducing a range of support services and decumulation solutions, making it easier for you and your members to access them.  Which approach best suits your risk appetite and people strategy and what solutions will make a difference for your members?  How can you empower your members to make better decisions? Where can you add value to improve outcomes? 

As a leading independent and inclusive adviser, we provide employers and trustees with strategic advice to help support their DC scheme members, ensuring they achieve better, more sustainable futures.