Members of defined-contribution retirement funds often hear that they will retire on 70 to 75 percent of their pre-retirement income. But a Harvard University professor and a local actuary say it will be a challenge for most fund members to achieve a pension of 65 percent of their pre-retirement income, let alone 70 to 75 percent. They say retirement funds should set realistic income goals that are tailored for each member's circumstances. This Saturday, Personal Finance reports on the case for a retirement-savings strategy that is based on a personalised income target.
Also in this weekend’s edition:
* Reduced-volatility investment strategy hopes to coax risk-averse investors into the equity market.
* Adjudicator asks retirement funds not to use Prescription Act to halt unclaimed benefit payouts.
* National Consumer Commission drops case against timeshare points scheme.