Pensions - Articles - Beyond Drawdown


With default pension benefit solutions (guided retirement) taking shape, solutions from flex & fix to insured drawdown and Retirement CDC are being considered by the pensions industry i.e. they are looking beyond traditional drawdown solutions to deliver innovation. As a result, the Society of Pension Professionals (SPP) held a webinar on “Innovation in DC Retirement Solutions”.

The webinar, attended by over 300 pension professionals, is part of the SPP’s weekly conference programme in September. Attendees were asked, “If it was your pension, which guided retirement solution would you prefer”
 
The polling results showed a clear preference for flexible and blended approaches to retirement income, rather than a traditional annuity-only solution. Retirement CDC also attracted significant support, with 11% choosing it on its own and a further 17% preferring to use it after a period of flexibility.
 
In contrast, traditional annuities were the least popular option, with just 3% selecting an annuity as their preferred solution. 
 
Collective drawdown  2%
Annuity  3%
Managed income drawdown   9%
Flex then deferred annuity  10%
Retirement CDC                 11%
Managed income drawdown with a minimum income guarantee  13%
Flex then annuity   14%
Flex then retirement CDC   17%
Flex and annuity (i.e. pot at retirement is split part drawdown and part immediate annuity) 19%
 
Sophia Singleton, SPP’s immediate past President, who chaired the event, said: “What’s particularly striking about this SPP polling is the breadth of solutions that pension professionals would choose for themselves. The results demonstrate a real appetite to look beyond traditional drawdown and consider how different approaches including Retirement CDC and various flex options, could work to provide better outcomes in retirement.”
 

Back to Index


Similar News to this Story

Footsie flies higher as oil prices ease
The Footsie climbs in early trade as oil prices ease, offering some respite after a volatile week, although Brent still hovers around $103 a barrel. F
SPP backs 3.25% GMP rate but says end routine consultations
The Society of Pension Professionals (SPP) has backed the Government’s proposed 3.25% fixed rate for Guaranteed Minimum Pension (GMP) revaluation from
DC survey shows adequacy blind spot as VfM regime approaches
Aon has announced findings from its 2026 Defined Contribution Pension and Financial Wellbeing Survey – ‘Balancing the Value Equation’ suggest that man

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.