Putting short-term returns into context for your members

Saving for a pension is a long-term commitment and a potentially daunting one for DC members. Questions like, “what level of pension will I need?”, “how much should I save each month?”, and “when can I reasonably expect to retire?” aren’t straightforward to answer, so it’s perhaps understandable that members can become confused and disengaged from their pension without help. At Hymans Robertson, we use our Guided Outcomes technology to help members address these types of question and set savings strategies that have a good chance of achieving their retirement goals.

It’s important that DC members continue to engage with their pension throughout their savings journey because changes to personal circumstances and unexpected changes in markets can impact outcomes. But understanding the potential consequences of today’s changes in markets on your pension in many years’ time is difficult; indeed, the tumultuous events of the last two years have emphasised that challenge and are a reminder of just how quickly things can change.

With that in mind, we developed our Member Outcomes Tracker to monitor how market events and fund performance have impacted the future retirement incomes of DC savers. Our goal is to put market events into context and help answer the question all members have: “What does this mean for me?”

In this article, we consider three typical savers and examine how their pension outcomes have fared since the start of the pandemic.

Download our article

Please contact Darren Baillie or your usual Hymans consultant if you’d like to use the Member Outcomes Tracker, or if you have any questions.