Longevity and Your Retirement

Find out how long you'll live based on NIH and AARP studies and the best way to fund your retirement.

We're living longer than ever

With a 401(k) most of us will need to save hundreds of thousands of dollars more than we used to. And we're increasingly at risk of running out money in our long retirements.

The Personal Pension never runs out of money

No matter how long you live you'll always receive the same guaranteed retirement paycheck. For healthy people, you'll collect hundreds of thousands of dollars more over your long expected lifespan. Without paying an extra dime.

Longevity walk

A Personal Pension Solves Long Lifespan Retirement

Never run out of money

Get a guaranteed paycheck every month in retirement

Pays out the same monthly paycheck no matter how long you live

Will never reduce in payout, even if the stock market performs poorly

Easy to start right now

Get started with as little as $5,000 initial contribution

Choose to use either IRA (pre-tax) or savings account funds

Make flexible contributions as low as $100 to supplement your retirement

Where do you get these estimates?

Our longevity calculator was was created by Wharton statistics professor and Amazon data scientist Dean Foster based on the results of a NIH and AARP study of more than 300,000 people. This is based on detailed questions about the lifestyles, habits, and physical traits and later examining the actual longevity and follow-up questionnaire for those participants.

Professor Foster performed a regression analysis on this data to build a model for your particular life expectancy and how various lifestyle choices will affect how long you live. Learn more about the study in our extended resource center article or life expectancy calculator faq.

How the Personal Pension Works

The insurance companies that guarantee the Personal Pension make a promise to provide you with a pre-determined monthly paycheck that won’t change based on how long you live or whether or not a market crash occurs.

This concept already exists and has been in practice for decades with annuities. With the Personal Pension, we’ve improved on this model. You get the same insurance-backed guarantee of lifetime income along with the ability to get started younger, in smaller amounts and diversify over time.

Learn more about the insurance guarantee.

FAQs

What is retirement income?

Retirement income is the “salary” you receive once retired – when living and enjoying life is your only job! Retirement income is generated by savings transferred into a Personal Pension. Once you’re ready to start receiving payments, your retirement income is guaranteed and won’t stop until you do.

How is the income guaranteed?

Your Personal Pension is backed by insurance companies that guarantee that for every dollar you contribute, you will receive a set amount of money every month. Those payments will start when you retire and continue for life. Basically, you pay them to take on your investment and longevity risks so you don’t have to.

How much does the Personal Pension cost?

Your Personal Pension only “costs” you as much money as you’re contributing, which could be as low as $100 a month. That $100 or more of savings converts to lifelong guaranteed income based on your age and gender. There are no upfront or ongoing fees.

How is the Personal Pension different than an annuity?

Although they both guarantee lifetime income in exchange for a contribution, traditional income annuities are purchased with one-time deposits averaging about $100,000 from people approaching retirement. The Personal Pension allows you to contribute incrementally, earlier on and in smaller amounts – just as you’d put money aside in your savings account or 401(k).

Do I need to run this by a financial advisor?

If your financial advisor is a licensed fiduciary, we won’t say no. But know that we’re licensed fiduciaries too. You can ask us about your greater financial picture and we will give it to you straight when it comes to evaluating whether a Personal Pension or annuity makes sense for you. Also, know that annuities traditionally get bad press, so your advisor could jump to conclusions. But that’s simply because the media doesn’t usually differentiate between the good and bad annuities available on the market. We only work with the good kind, both for our traditional annuity business and the Personal Pension.

How is my money invested?

The money you contribute to the Personal Pension is invested by top rated insurers of your choice. It’s invested conservatively in their General Account, largely in fixed income investments as well as some in equities. Importantly, they take on all of the investment risk, so if their investments underperform, it’s on them. Not you.

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