ETFdb Logo
ETFdb Logo
  • ETF Database
  • Channels
    • Active ETF
    • Alternatives
    • Beyond Basic Beta
    • China Insights
    • Climate Insights
    • Commodities
    • Core Strategies
    • Crypto
    • Disruptive Technology
    • Dividend
    • Dual Impact
    • Emerging Markets
    • Energy Infrastructure
    • ESG
    • ETF Building Blocks
    • ETF Education
    • ETF Strategist
    • Fixed Income
    • Free Cash Flow
    • Future ETFs
    • Global Diversification
    • Gold & Silver Investing
    • Innovative ETFs
    • Institutional Income Strategies
    • Leveraged & Inverse
    • Managed Futures
    • Market Insights
    • Megatrends
    • Modern Alpha
    • Multi-Asset
    • Night Effect
    • Portfolio Strategies
    • Retirement Income
    • Richard Bernstein Advisors
    • Tax Efficient Income
    • Thematic Investing
    • Volatility Resource
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Sector Tracker Tool
    • ETF Database Categories
    • Head-To-Head ETF Comparison Tool
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
    • Indexes
    • Mutual Fund To ETF Converter
    • ETF Data for Journalists
    • ETF Nerds
  • Research
    • First Bitcoin ETF
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF Trends on Videos
    • ETF Trends on Podcasts
    • ETF Prime Podcast
  • Company
    • About Us
    • Swag Store
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. Retirement Income Channel
  2. Pandemic Spotlights Need for Retirement Income Certainty
Retirement Income Channel
Share

Pandemic Spotlights Need for Retirement Income Certainty

Karrie GordonDec 20, 2021
2021-12-20

There is currently a gap between the growing demand from retirees, those near retirement, employers, and plan participants for lifetime income options and the offerings from plan sponsors. With more people nearing retirement age, the focus is shifting more heavily towards lifetime income concerns, and it’s an area that is expected to see a lot of growth and opportunity in coming years, reports PlanSponsor.

The retirement industry has been hit heavily by a wave of unexpected early retirement brought on by the COVID-19 pandemic as the concern for the industry at large turns to ensuring that retirees have retirement income to last them their lifetimes.

“Increasingly, plan sponsors want to get their people not just to, but also through, a high-quality retirement and, as a result of that, this industry is ripe for the development of new products and solutions that speak to these needs,” said David Blanchett, managing director and head of retirement research for defined contribution solution at QMA LLC, the quantitative equity and multi-asset solutions specialist of PGIM.

“For some time now, there has been a lot of talk about making [defined contribution] plans more friendly to retirees and to efficient retirement spending, but plan sponsors are now truly starting to push this trend forward in a big way,” Blanchett said.

Recent legislation means that beginning in 2022, defined contribution (DC) plans will have to report their lifetime income projections, making them much more transparent. For retirees and those saving, being able to see in plain text what the estimated income will be over the life of their plan will allow for better planning for retirement income needs.

Recent research from PGIM indicates that plan sponsors most often addressed retirement income challenges by offering advice and tools on spending down savings in retirement (89%), followed by communicating the projected income that participants will generate (66%), and by allowing either partial or systemic withdrawals from their plans on top of lump-sum withdrawals (49%).

The focus for the past 40 years by the industry has been primarily on building retirement, but now with larger numbers of individuals retiring unexpectedly and the mass retirement that is expected from one of the largest generations yet, the concern about funding and finding steady retirement income plays prominently for advisors.

“Our challenge as advisers is trying to then gauge success post-retirement,” said Daniel Peluse, executive director of Wintrust Retirement Benefits Advisors. “The challenge then becomes: How do we make sure folks can sustain a comfortable retirement?”

Nationwide offers a variety of options with various investment strategies for advisors to provide retirement solutions for their clients.

_For more news, information, and strategy, visit the Retirement Income Channel.

Loading Articles...
Help & Info
  • Contact Us
Tools
  • ETF Screener
  • ETF Analyzer
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Performance Visualizer
  • ETF Database Model Portfolios
  • ETF Database Realtime Ratings
  • ETF Database Pro
More Tools
  • ETF Launch Center
  • Financial Advisor & RIA Center
  • ETF Database RSS Feed
Explore ETFs
  • ETF News
  • ETF Picks of the Month
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Best ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Legal
  • Terms of Use and Privacy Policy
  • © 2023 VettaFi LLC. All rights reserved.
Follow ETF Database
Follow ETF Database

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X