Beyond the DB-to-DC Shift: How to turn partial pensions into better retirement outcomes

The retirement market is no longer a clean break from pensions to pure self-directed savings. Many near-retirees still have some defined benefit exposure, but they often must combine it with defined contribution assets to create reliable income.

That makes the retirement-income challenge more complex, especially as longevity and healthcare costs rise. The key risk is that participants may take lump sums without a clear drawdown plan, which can lead to poor outcomes or faster-than-expected depletion.

For advisors and plan sponsors, the opportunity is to treat DB and DC plans as complementary rather than separate. In-plan income solutions, better education, and flexible distribution options can help turn accumulated savings into durable retirement income.