The nastiest, hardest problem in finance: Decumulation debated (part 1) episode artwork

EPISODE · Mar 25, 2026 · 24 MIN

The nastiest, hardest problem in finance: Decumulation debated (part 1)

from Pensions Perspectives · host Sophie Tennison - Director, Investments at WTW

Decumulation, often described as the "nastiest, hardest problem in finance", sits at the heart of how members turn their pension pots into a sustainable income for life. In this episode, and the first in a two part series, host Sophie Tennison speaks with pensions lawyer Wendy Hunter and WTW adviser Andrew Doyle to unpack why decumulation is so complex, what's changing under the Government's new Guided Retirement framework, and how schemes can better support members at retirement. They explore the trade-offs between drawdown, flex and fix solutions and lifelong income options like Retirement CDC, and the legal and governance considerations trustees must navigate. The conversation brings together market developments, regulatory shifts and practical steps trustees can take as the industry moves towards more structured, supportive retirement pathways.

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The nastiest, hardest problem in finance: Decumulation debated (part 1)

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This episode is 24 minutes long.

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This episode was published on March 25, 2026.

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Decumulation, often described as the "nastiest, hardest problem in finance", sits at the heart of how members turn their pension pots into a sustainable income for life. In this episode, and the first in a two part series, host Sophie Tennison...

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