“Imagine a parade of 10,000 people marching past your house every day, each holding a retirement cake and a balloon. That's a lot of calories & balloons and that is only in the United States!”

Projecting forward, today’s 120M+ active participants in retirement plans in North America will be retiring over the next few decades. More than 70% of those will not have guaranteed income for life from private pensions. It is no surprise that decumulation - the problem of drawing down one’s savings in retirement - has recently become a topic of interest to researchers and economists. The enormity of the problem highlights the importance of this issue to both public policy experts as well as the financial services industry.