Corebridge Financial Study Reveals Retirement Spending Anxiety, Highlights Decumulation Planning Gap — Corebridge Financial, Inc.

Event summary

Only 28% of pre-retirees and retirees are comfortable drawing down savings in retirement, per Corebridge Financial's Decumulation Planning Gap Study.
70% of respondents prioritize maintaining their nest egg size, with 56% fearing running out of money more than leaving an inheritance.
57% of pre-retirees with a decumulation plan are highly confident in managing retirement spending, compared to 26% without a plan.
47% of respondents prefer guaranteed lifetime income over a $1 million lump sum at age 65.
Corebridge Financial collaborated with Jean Chatzky on a campaign to promote retirement security and enjoyment.

The big picture

Corebridge Financial's study highlights a critical gap in retirement planning: the transition from saving to spending. As traditional pensions decline and life expectancies rise, the demand for decumulation strategies and guaranteed income solutions is likely to grow. Corebridge, with $380 billion in AUM, is positioning itself to capitalize on this trend by promoting annuities and other retirement income products. The collaboration with Jean Chatzky suggests a strategic focus on consumer education and engagement to drive product adoption.

What we're watching

Product Innovation: How Corebridge Financial will leverage this research to develop or promote guaranteed lifetime income products, particularly annuities.
Market Positioning: Whether Corebridge can differentiate itself from competitors by addressing the decumulation planning gap with targeted solutions.
Consumer Behavior: The pace at which retirees and pre-retirees adopt decumulation planning strategies, and how this impacts Corebridge's business.