New pension fund product a potential ‘game changer’ for middle-class retirees

One of the most challenging things about planning your retirement finances is you don’t know how long you’ll live and therefore how long your money needs to last.

Left to your own devices, that typically means drawing sparingly from your portfolio in the early years of retirement to stretch your money out, just in case it needs to last until your late 90s. The more likely outcome is that you’ll die at a more average age in your late 70s or 80s with plenty of stockpiled savings left to your estate, but you can’t count on it.

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