How to make your money last all of your life and how policymakers can help
The challenge of managing our lifetime finances is growing all the time. Longer life spans and lower interest rates have dramatically increased the lifetime savings challenge. More importantly, the transition from defined benefit to defined contribution has turned it into a daunting individual journey for most people. The conference will explore the keys to success in the lifetime savings challenge and offer some views on how policymakers can support the process.
To access podcast please contact the Society: info@actuaries.ie
Outline of Conference:
8.30: Registration
9.00: Welcome, Paul O’Faherty, SAI President
9.05: Opening Address, Joan Burton, TD Minister for Social Protection
9.20: What Do People Know About their Pensions? Evidence from the Longitudinal Study on Ageing, Alan Barrett
- The long term economic perspective on pension sustainability in Ireland (especially state pension)
- Likely changes to 2nd Pillar voluntary system
- Outlook for tax incentives
- Public Sector pensions – issues / sustainability
- International insights from other systems
- Early social / financial insights from TILDA
9.45: Expert Research on design of effective Fiscal Incentives for Retirement Savings, Patrick Cosgrave
- Results of the recent research on analysing the fiscal incentives for retirement savings - models and redistributive effects
10.10: Questions & Answers
10.30: Coffee Break
10.50: Planning for Retirement, Niall O'Callaghan
- The individual savings process – advice / persuasion dynamics
- Behavioural insights / Nudges
- Insights from more developed markets (US/UK/Australia/Etc)
- Mercer global research into the Lifetime savings process
- Case studies / examples
11.15: Health is Wealth: changing the retirement mindset, Aisling Kennedy
- An overview of the policymaker response to date to shift in population age / longevity / dependency ratios
- International experience re the above
- Likely future policy decisions / dilemmas
- Social impacts of the above, especially the later retirement challenge
- Healthcare perspective
11.40: Stepping Stones for Career Transition, John Deely
- The need for career transition to sustain longer working lives (shorter business cycles, etc)
- The psychological / emotional / financial challenges of career transition
- The process of career transition
- Case studies / High profile examples
12.10: Panel Discussion Speakers including Robin Webster
12.45: Buffet lunch
For details of the speakers, please click here