Retirecast Episode 1 - Why spending needs a different approach to saving

The thematic review of retirement income advice highlights the need for a different approach as clients move from saving to spending. The transition from ‘accumulation’ to ‘decumulation’ presents a number of key challenges and it’s important that the risks are covered and actions evidenced. In this first session, we’ll look at the key aspects and the ‘foreseeable harms’ that need to be accounted for. We’ll also explore the need to consider all strategies, including guaranteed income and the benefits from a regulatory, firm and, most importantly, client perspective. Learning Objectives: • Identify the main advice aspects through the ‘consumption frame’. • Explore the components of an advice process for retiring clients. • Recognise the place for Secure Lifetime Income as part of an overall strategy.