There are millions of people in this country with pension pots that are too small to convert to an annuity (or Pension SuperHaven) , that are impractical for drawdown but which people want to use to add to their state pension and/or earnings to let them retire in comfort.
We need a simple financial product that pays a guaranteed income at a fixed rate with a super-strong covenant. Arun has got Governments to use his SeFLIE structure and now he’s lobbying Rachel Reeve and Emma Reynolds to offer SeLFIES for small pots.
I’m really pleased that he’s going to be talking with us on Tuesday
Coffee Morning – Should SeLFIES now be issued by HM Treasury?
Tuesday August 27th, 2024 at 10:30 am
I am so excited I can’t wait to hear him talk to this chaotic deck which promises so much!
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The formal bit
We are delighted that Dr Arun Muralidhar will be dialling in from Washington DC (very early from him) to give us an update on what is happening with SeLFIES.
There is a looming retirement crisis in the UK as the country faces the challenge of an aging population. British citizens are fortunate to be living longer and enjoying increased life expectancy. At the same time, the country has experienced a declining birth rate, and perhaps, slower economic growth. Hence, Social Security’s sustainability has been questioned.
“SELFIES” (Standard-of-Living, Forward-starting, Income-only Securities) were first proposed by Arun in 2015.
To my mind, they are the best option for people with small pots (typically less than £10,000) after cash has been stripped.
Strips of income that can be bought easily anywhere from the Post Office to online, that carry minimal administration and pay a regular income for a fixed period of time are the answer for small pots
With a new Labour Government, HMT may now be interested in the SeLFIES concept!
Some of you may also be aware that SeLFIES were launched in Brazil and appear to have made a very positive impact; Arun will update us on this.
Following Guiide’s decumulation presentation recently the prospect of the SeLFIES idea could also help in this space?…for discussion.
Dr Arun Muralidhar is founder of Mcube Investment Technologies.
SeLFIES are “Back on the table”!
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