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Centre for Policy on Ageing | |
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The response of the Actuarial Profession to the second report of the Pensions Commission, "A new settlement for the twenty-first century"
— Paper 2: The need for decumulation reform - a response to the Pensions Commission from the Actuarial Profession | | Corporate Author | Actuarial Profession; Institute of Actuaries |
| Publisher | The Actuarial Profession, London, 10 March 2006 |
| Pages | 12 pp (Consultation response) |
| Source | Dr Martin Hewitt, Programme Manager, Social Policy, The Actuarial Profession, Staple Inn Hall, High Holborn, London WC1V 7QJ. E-mail: martin.hewitt@ actuaries.org.uk http://www.actuaries.org.uk |
| Keywords | Pensions ; Supplementary pensions ; Private pensions ; Social characteristics [elderly] ; Social policy ; Comments or Evidence submitted. |
| Annotation | The word "decumulation" is gaining widespread acceptance throughout the pensions industry, and in pensions terms, is the opposite of accumulation. It refers to the conversion of pension assets accumulated during working life into a pension income to be spent during retired life. This paper highlights the need to extend the range of decumulation options available to ordinary consumers, for example how we manage savings and finances in the transitions between work and different phases of retirement for our own well-being. It calls for new thinking from the different experts involved in the provision of financial services. This submission has been produced by the Actuarial Profession as a response to the Pensions Commission 2nd report, as a contribution to the National Pensions Debate, and as input to government policy in advance of the forthcoming Pensions White Paper. (RH). |
| Accession Number | CPA-060314501 E |
| Classmark | JJ: JJH: JK: F: TM2: 6PM * |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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