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Turning a pension expert’s decumulation research into a practical tool for individuals

Decumulation Research Case Study

Overview

Decumulation is sometimes referred to as the most difficult problem in finance. It is no surprise that a lot of research goes into solving the decumulation challenge for individuals. Part of the  research done by a prominent pension expert led to an article published in FT London providing a practical decumulation framework for individuals. The topic was well received and garnered a lot of discussion and comments from the readers, some requesting to apply the theory to their own cases. We worked with the pension researcher to make a sophisticated decumulation model accessible to individuals with an interest in this subject.

Approach

We understood our users as an engaged audience with varying levels of knowledge and expertise of the topic. We embedded smart defaults in calculations to provide a very simple and compact UI for basic users and a series of expanded versions for more sophisticated users. The complexity of the model was built in the back engine to allow for ease of use. We also added functionality for scenario analysis in a compact UI.

  • Compact UI
  • Scenario Analysis
  • Smart Defaults

Solution 

  • Life Income Simulator[2]  is a simple yet comprehensive interactive simulator (web-app) which calculates how much you can consistently withdraw from a nest egg for a given withdrawal period
  • Embedding smart defaults for underlying assumptions to generate quick outputs
  • Scenario analysis capability
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Let us introduce a contemporary take on the pension industry, one that empowers individuals to make informed decisions about their financial well-being in retirement. Pensionbar’s human-centric and holistic approach drives the transfer of passion into technology, generating superior return on your investment in offering retirement benefits.

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