012 Making your pension savings last a lifetime, with Abraham Okusanya
Since George Osbourne pronounced the words “No one will have to buy an annuity again” in 2014, the retirement market has changed from a safety-first environment to one full of risk and responsibility.
No longer forced to convert your hard-earned savings into an annuity – a guaranteed income for life in exchange for your pension pot – pension freedoms legislation allows you more freedom on how to spend your retirement savings.
Fundamentally this means more people decide to invest their retirement savings and take an income to meet their expenditure needs.
My guest on The Retirement Café Podcast this week is Abraham Okusanya – an intelligent chap who recognised how difficult it was for financial planners to help clients work out the best way to take an income from their investments. There are so many factors to consider, such as the inflation risk, longevity and market performance.
Abraham runs a research and consultancy firm called FinalytiQ, who provides investment and technical support to financial planners working with retirees. He is also the founder of the Timeline software. Timeline enables financial planners like us help their clients work out how to ensure their pension savings last a lifetime.