Retirement Readiness Index (RRI)
For too long, the focus in Defined Contribution, or “DC”, plans has been on the contributions being paid in and not on the member outcomes.
DC is about member outcomes. Do you know if your employees’ retirement savings will allow them to retire when they want with the income they need?
How does your DC scheme measure-up against the PLSA’s Retirement Living Standards and how might you improve the position?
What is RRI?
Mercer’s RRI produces an objective evaluation of your members’ retirement benefits. It provides you with an insight of your plan across four core areas; its design, the take up rate, the investments offered and when and how your members access their retirement benefits. Importantly, we look at different categories of your employees, to test for differences across factors including location, age and gender.
We then recommend a series of interventions to help you improve your members’ outcomes and then monitor the results so you can see the impact of your interventions.
If you want to know how well you are measuring up against the PLSA’s Retirement Living Standards and your peers, please complete the form below.
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