National Retirement Risk Index highlights 'value of income certainty in retirement'More than half of American households are at risk of being unable to maintain their pre-retirement standard of living in retirement. And that, says Bob O’Donnell, president of Prudential Annuities, highlights why "the value of income certainty in retirement has never been more important.”
According to the National Retirement Risk Index, underwritten by Prudential Financial and released Nov. 6, 53 percent of households may not being able to sustain their standard of living in retirement. That's a 9 percentage point jump from the previous index.
“While Social Security and guaranteed income products have a key role to play, the bottom line for most households is that they will need to save more for retirement if they are to maintain the standard of living they desire,” O'Donnell notes.
A Prudential white paper, “Planning for Retirement: Protecting Retirement Income Against Key Risks,” which accompanies the release of the National Retirement Risk Index, highlights the impact that a sustained low interest rate environment, continued market volatility and increased longevity have on retirement security.
Want more information on the National Retirement Risk Index? Read the Issue Brief. Want to speak to Bob? Contact Lisa Bennett.