Wealth decumulation – a case study

6th February 2017

Wealth accumulation - a case study

Frank Smith is retiring from his career as an airline pilot at the age of 65 after having served with a number of airlines.  He lives with his wife in a mortgage free home, his children are not financially dependent.  In 2015 Frank became a client of Premier Financial. Frank had lots of different pension benefits from previous employments and did not know if he had sufficient funds to retire comfortably. Premier Financial recommended that Frank’s pension funds were transferred to an ARF  and then invested in the Premier Financial  Balanced Portfolio.

Client Objectives
Frank has stated that he and his wife require a joint, net income of €4,000 per month to meet their lifestyle requirements in retirement.  He is seeking clarity from Premier Financial about the retirement income options available to him from his pension fund.  He doesn’t like the idea of giving up control of his pension funds for an annuity but wants to keep all his options open. He also has a real concern about ‘running out of money’ in retirement and would like Premier  Financial to run the numbers for him.

Premier Financial provided a detailed report on the income options available to Frank.  We looked at the following: Annuity purchase – joint life and ARF options.

Frank’s pension assets are likely to last until his 100th birthday, Frank and Premier Financial meet each year to conduct an annual review of investment performance and his financial plan.

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