Date(s) - 29/05/2020
12:00 pm - 1:00 pm
Many DC savers are not on course to achieve their retirement expectations, which is of huge concern. The IFoA’s Savings Goals for Retirement are a guide to how much needs to be saved over a working life to achieve each of the PLSA’s Retirement Living Standards, ‘Minimum’, ‘Moderate’ and ‘Comfortable’; how can these, and other rules of thumb, help engage people to plan for their retirement? What can government and the pension industry do to assist? We will consider all these issues during the session.
Stephen Hyams was Chair of the IFoA’s Saving for Retirement working party, whose paper was presented at a sessional meeting at Staple Inn last May and formed the basis for the IFoA’s Savings Goals paper and follow up work planned for this year. His article on the Working Party’s paper was published in last November’s edition of The Actuary magazine.