Pensions and Retirement Training Course on Phased Retirement and Partial Withdrawals

Module 1: Concept and Rationale for Phased Retirement
Evolution from traditional to flexible retirement models
Demographic, economic, and policy drivers of phased retirement
Global experiences: UK flexible access, US phased retirement programs, EU hybrid systems
Member needs and behavioral patterns in gradual retirement
The link between longevity, adequacy, and flexible benefit design
Case study: How Scandinavian pension systems manage phased retirement

Module 2: Designing Phased Retirement Structures
Frameworks for combining work and partial pension receipt
Pension eligibility, vesting, and benefit triggers
Setting rules for minimum and maximum partial withdrawals
Coordination between employer HR policies and pension fund rules
Communication strategies and decision support for members
Workshop: Developing a phased retirement policy for a public sector scheme

Module 3: Actuarial and Financial Implications
Impact on actuarial valuation and liability recognition
Mortality and longevity assumptions under partial payouts
Recalibration of annuity or drawdown calculations
Managing liquidity and cash flow in phased pension payments
The effect on contribution schedules and funding ratios
Simulation: Modelling phased benefit drawdowns in a defined contribution (DC) plan

Module 4: Legal, Taxation, and Regulatory Considerations
National and international frameworks for flexible retirement
Tax treatment of phased withdrawals and lump sums
Compliance with labor and pension laws during continued employment
Fiduciary responsibilities and disclosure requirements
Preventing early depletion of retirement funds and member safeguards
Discussion: Cross-country comparison of tax and legal approaches

Module 5: Implementation, Monitoring, and Member Engagement
Setting up administrative systems for partial payments
Tracking and reporting phased benefits and continued accruals
Communicating options and risks to members
Role of technology in managing flexible withdrawals
Monitoring outcomes and adjusting policies for sustainability
Capstone activity: Designing a communication and monitoring plan for phased retirement implementation