Working Lunch Baillie Gifford - 6th December 2023


Living longer… and prospering

For those approaching retirement today, there are reasons to be excited. Advances in health care mean we are living longer, and technological innovation continues to improve our quality of life. Yet retirement can be daunting as well as thrilling. Your hard-earned pension pot needs to fund your lifestyle in retirement. The transition away from guaranteed, defined benefit pension income continues apace. This means individuals have greater responsibility for funding a longer retirement compared with previous generations. Many recognise the benefits of keeping their pension pots invested when they retire but ‘staying the course’ brings risks. Many ask: why should I stay invested if I don’t know how much money will come in each month? The purpose of this session is to explore that specific problem. We will consider why income volatility matters for retirees, and how it can be mitigated. What does ‘natural income’ mean, and how do we think differently about income growth in retirement?

By the end of this session, attendees will be able to:

  • Assess the options available to those approaching retirement today, considering recent market movements
  • Demonstrate why income volatility matters in retirement, and how it can be mitigated
  • Explain the benefits of focusing on long-term income growth, as opposed to short-term yield


Tom Danaher, Investment Specialist Manager

Tom is a Multi-Asset and Income investment specialist in the Clients Department. He joined Baillie Gifford in 2022. Prior to this, Tom was an Investment Director at Evelyn Partners (formerly Smith & Williamson) in London, where he spent seven years managing multi-asset portfolios on behalf of private clients, trusts and charities. Tom graduated with first class honours in Politics, Philosophy & Economics from the University of Manchester in 2015 and is a Chartered Fellow of the CISI.

Working Lunch with Baillie Gifford - 6th December 2023

Venue: Online

Date: 6th December 2023

Time: 1-2pm

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