Jun
02
2025
Plan Sponsors, Providers Face Challenges Creating Retirement Income
Writing in PLANSPONSOR, Elizabeth Harris turns to retirement industry experts to examine the obstacles associated with turning retirement savings into regular income. Vanguard's Fiona Grieg, global head of the firm's investor research and policy group, addressed empirical data associated with 70,000 retirees, suggesting that many of them "just don’t know what to do." Highlighting the issue of cashout leakage, Grieg noted that "Vanguard is one of the founding recordkeepers of the Portability Services Network and is encouraging its clients to join" while pointing out that the consolidation of "small pots" could deliver significant benefits, considering that the average workers has "nine jobs over the course of their careers."
