The case for lifetime income
Perhaps the most consequential retirement policy development of the past half century has been the shift from defined benefit (DB) pensions, which provide retirees guaranteed income for life, to defined contribution (DC) retirement savings plans, which typically do not. The Case for Lifetime Income, published by the Global Aging Institute in collaboration with Prudential Financial, examines the enormous benefits for both individuals and society of the longevity pooling that underlies lifetime income. It also discusses the…
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