Women expressed higher levels of concern versus men regarding the
-- Inflation -- 62 percent versus 51 percent
-- Affording long-term care -- 57 percent versus 47 percent
-- Healthcare costs -- 56 percent versus 45 percent
-- Depleting savings -- 52 percent versus 37 percent
-- Staying in their home -- 44 percent versus 29 percent
To manage these risks, actuarial approaches include investment strategies to produce income, including joint and survivor annuities and life insurance.
Actuaries are at the forefront of identifying the retirement needs, risks and roles of all stakeholders involved in retirement including consumers and businesses. The Society of Actuaries and its Pension Section Council is spearheading the first-ever Retirement 20/20 initiative. Launched in 2006, Retirement 20/20 is leveraging the insights of more than 60 experts, including leading retirement actuaries, corporate benefits managers, attorneys, public policy advocates and academics. Retirement 20/20 will analyze the retirement landscape with the goal of developing a new retirement system different from traditional defined benefit and contribution plans in the coming years.
Future Retirement Survey Reports
In ongoing efforts to identify, understand and manage the retirement risks facing today's pre-retirees and retirees, the SOA will release a series of three retirement survey reports on the phases of retirement, long-term care concerns and retirement risks for women. The SOA's three survey reports are scheduled to be released later this year.
Actuaries bring a complex future into focus by applying unique insight
|SOURCE Society of Actuaries|
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