The forum brought together international academics, key industry figures, consumer groups and members of the press to discuss a key issue facing employers and advisers.
This years’ forum looked at the following question:
'How can DC pension providers encourage and enable those approaching retirement to make the best possible decisions on taking their money out of their retirement pots?'
During the forum we explored the issues that new savers brought into auto enrolment will face when they retire.
The aim was to create a better understanding of what this new group of savers will need to think about when they convert their retirement pots into a retirement income, cash sum or transfer.
We explored the emotional and behavioural issues they’ll face and how far engaging early with these savers can encourage better decision making.
Speakers at NEST's 2013 Forum included:
- Otto Thoresen, director general, Association of British Insurers
- Paul Johnson, director, Institute for Fiscal Studies
- Robert C. Merton, distinguished professor of finance, MIT Sloan School of Management. View Robert's presentation (PPT)
- Paul Cox, senior lecturer in finance, University of Birmingham. View Paul’s presentation (PPT)
- Hazel Bateman, director, Centre for Pensions and Superannuation, Australian School of Business. View Hazel's presentation (PPT)
- Patrick Nolan, chief economist, Reform. View Patrick's presentation (PPT)
- Tom Boardman, visiting professor, Cass Business School and Trustee Member of NEST Corporation. View Tom's presentation (PPT)
Please note these slides have been produced by external speakers and represent their views, not necessarily those of NEST Corporation. Their inclusion doesn’t constitute an endorsement.
Read NEST's research into retirement decisions (PDF)
View the presentation on NEST's research into retirement decisions (PPT)
You can read the essays that the visiting academics contributed to the forum:
Customer engagement in the annuity market in 2013, Association of British Insurers (PDF)s
Disengagement: a partial solution to the annuity puzzle, Hazel Bateman, Christine Eckhert, John Geweke, Fedor Iskhakov, Jordan Louviere, Stephen Satchell, Susan Thorp (PDF)
Spend more today safely: using behavioural economics to improve retirement expenditure decisions with SPEEDOMETER plans, David Blake, Tom Boardman (PDF)
Private pension wealth among 55-64 year olds in the UK, Paul Cox (PDF)
Applying life-cycle economics: an income-orientated DC retirement solution that integrates accumulation and payout phases, Robert C. Merton (PDF)
You’re a long time retired: making the most of financial and housing assets at retirement, Dr Patrick Nolan (PDF)