Post-Retirement Needs and Risks

The SOA Committee on Post-Retirement Needs & Risks (PRNR) develops and partners on a variety of research on the risks, attitudes and concerns of retirees and pre-retirees (those preparing for retirement). Access the different research and related resources.

Impact of COVID-19

Retirement Risk Survey Series

Middle Market Retirement

Retirement Decisions

Managing Finances

Retirement Income

Consumer Interest

Highlights of Research by Topic or Theme

Other Resources

 

Impact of COVID-19

  • Impact of COVID-19 on Family Dynamics in Retirement
    May 2020  
    This report summarizes thoughts and questions raised during the conversation focused on how COVID-19 impacts families and their role in retirement and economic security across generations.
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  • Impact of COVID-19 on Aging and Retirement Essay Collection
    May 2020  
    The Society of Actuaries’ Aging & Retirement Strategic Research Program is pleased to make available essays received in response to its Call for Essays on the impact of COVID-19 on aging and retirement. The purpose of the essay call is to gather perspectives, opinions and data on the short and long-term consequences of COVID-19 on aging and retirement.
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  • Impact of COVID-19 on Senior Housing and Support Choices
    April 2020  
    This report summarizes thoughts and questions raised during the conversation focused on the possible impact of COVID-19 on senior housing and related decisions that retirees and their families may need to make.
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  • Impact of COVID-19 on Retirement Risks
    April 2020  
    his issue brief summarizes the thoughts and questions raised during the conversation about the potential impact of COVID-19 on retirement risks and planning, and it provides an overall background on these issues.

Retirement Risk Survey Series

This biennial survey evaluates Americans’ awareness of potential financial risks in retirement, how this awareness impacts the management of their finances with respect to retirement, and how Americans are managing the process of leaving the workforce.

Middle Market Retirement

The middle market is an important focus of PRNR work. This group is often underserved by the financial services industry, and many people in this group do not secure adequate resources for retirement.

Retirement Decisions

This section combines several studies exploring decisions people are making at different life stages along with information directed at consumers. This information can be used to help people understand what decisions are needed and the issues involved in the decisions. The consumer information is also suitable for use by advisors and employee benefit plan sponsors.

Managing Finances

This section combines two studies on the provision of retirement advice in a workplace setting with several studies that provide insights on how individuals manage their finances. The studies include two surveys and a focus group study.

Retirement Income

This is a series of related studies designed to lay the foundation for the provision of retirement income options in employer sponsored defined contribution plans; to discuss regulatory issues related to options in employer plans; and to provide new tools for the quantitative evaluation of a range of income options.

Consumer Interest

This section provides resources to help consumers understand post-retirement risks. The materials are also suitable for media, employee benefit plan sponsors and advisor use. All of the resources are freely available for download and public use.

  • Managing Post–Retirement Risks–Strategies for a Secure Retirement (Risk Chart)
    May 2020 
    The Society of Actuaries’ Aging & Retirement Strategic Research Program is pleased to make available the fourth edition of the retirement risk chart. This chart provides information for consumers and other audiences on retirement risks and strategies for managing these risks
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  • Managing Retirement Decisions   
    March 2020 
    A landmark effort examining the major decisions encountered in retirement, the result is a thought-provoking series of issue briefs that tackle a variety of retirement decisions with practical considerations and advice.
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  • Retirement Literacy
    August 2019
    The Society of Actuaries Committee on Post Retirement Needs and Risks and Financial Finesse are pleased to make available a series of briefs focused on retirement literacy issues.
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  • Age Wise
    May 2016
    A series of infographics on how life expectancy can impact retirement planning.

Highlights of Research by Topic or Theme

This series of reports compiles information on specific topics that have been explored in the Committee on Post-Retirement Needs and Risks extensive body of research.

Other Resources

This section includes several collections of papers and essays written around various themes. It also includes two studies on retirement planning software, single sheet handouts about various parts of the PRNR work, and an overview chart that includes a description of most of the reports of the PRNR committee.

Products, Tools, and Strategies that Address Retirement Risks – Essay Collection
May 2020
The Society of Actuaries’ Aging and Retirement Strategic Research Program is pleased to release a collection of essays aimed to gather perspectives, opinions and data on how to advance the state of effective retirement planning tools, products, and strategies to assist individuals, financial advisors, employers, and other stakeholders.

Understanding and Managing Post-Retirements Risks Reports Flyer
February 2020
A flyer that provides an overview of a report series that summarizes the SOA's work on Post-Retirement Risks.

Understanding and Managing Post-Retirement Risks
February 2020

Summary Handout of Recent Retirement Research
August 2019

Family Structure, Roles and Dynamics Linked to Retirement Security – Essay Collection
June 2019
The Society of Actuaries (SOA) Committee on Post-Retirement Needs and Risks is pleased to present this essay collection, which shares thoughts and opinions on the current and potential impact that structure, roles and dynamics of families have on retirement security in the United States.

Insights on Spending and Asset Management in Retirement
May 2019
The Society of Actuaries (SOA) is pleased to make available a report summarizing key points made during an online discussion through the SOA’s Aging & Retirement Strategic Research Program and issues related to spending in retirement, asset management and the use of Qualified Longevity Annuity Contracts (QLAC).

Women Take the Wheel - Destination Retirement 
January 2019 
This presentation was first given to the American Savings Education Council and provides insights into SOA Research on women and retirement.

A Conversation on Dementia and Cognitive Decline
December 2018
The Society of Actuaries (SOA) is pleased to make available a report summarizing key points made during an online discussion through the SOA’s Aging & Retirement Strategic Research Program and issues related to dementia and cognitive decline. Participants included actuaries, retirement researchers, financial advisors, attorneys, economists, and financial writers.

Understanding America Study (UAS) Comprehensive File
September 2018
This webpage provides a description and instructions for accessing the Understanding America Study (UAS) Comprehensive File. The SOA provided support for the creation of the file.

What Happens Later in Retirement: Insights from the Society of Actuaries Research with Retirees 85 and Over
July 2018
This presentation provides insights into SOA Research on retirees ages 85 and older.

Securing Future Retirements Essay Collection
May 2018
The Society of Actuaries (SOA) Committee on Post-Retirement Needs and Risks is pleased to present this essay collection, which shares thoughts and opinions on how to advance the state of effective planning strategies, products and employee benefit plan structures to help secure future retirements.

New Insights from 2017 Society of Actuaries Research on Post-Retirement Risk
March 2018
This presentation was given to a local actuarial club, but is suitable for a wide variety of venues.

Managing Retirement – Issue Briefs Summary

Financial Wellness Essay Collection
This collection of essays provides a thought-provoking array of views and perspectives related to financial wellness.
April 2017

An Overview of the Society of Actuaries Research on Post-Retirement Risk
April 2017

Diverse Risks Essays Collection
April 2016
This collection of essays explores the diverse risks associated with defined contribution plan risk management strategies; decumulation strategies for retirement; and long-term care financing.

Managing the Impact of Long-Term Care Needs and Expense on Retirement Security
December 2014
This collection explores the impact of long-term care needs and expense on retirement security from a variety of aspects.  

Understanding Longevity: What to Tell Your Clients
February 2011
A presentation assembling basic actuarial longevity information and deriving perspectives to support the financial planning process.

Retirement Planning Software and Post-Retirement Risks
December 2009
An effort that examined the current state of retirement planning software's handling of post-retirement risks.

Housing in Retirement Monograph
September 2009
The papers in this monograph provide varied perspectives on many housing and retirement issues of concern to policymakers, financial planners, and homeowners, among others.

Retirement Planning Software
2003
This report reviews retirement planning software programs available to individuals and their professional advisors.