Retirement income planning, in practice.
Accumulation is the easy bit.
Getting a client to retirement is a well-rehearsed piece of work. Getting them through it is not.
The moment a client starts drawing an income, the job changes shape. A bad year no longer averages out, it compounds, because withdrawals crystallise the loss. The cashflow model that looked robust on screen has to survive real markets and a real client asking whether they can still afford the holiday. And the adviser has to hold that conversation every year for twenty or thirty years.
The regulator has been clear that this is an ongoing area of focus. The FCA's thematic review of retirement income advice (TR24/1) found a mixed picture across the market, with specific gaps around fact finding on expenditure and future income needs, risk profiling for clients in decumulation, and how firms evidence that a withdrawal rate is sustainable.
What's on the agenda?
NextWealth – Retirement Research from Advisers & the Market
Workshop – Retirement Planning Case
PIMCO – Retirement Income Investment
Workshop – Building a CRP
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