In the current financial climate and with ever-increasing longevity, saving for retirement is more crucial yet more difficult for the individual than ever before. As pension providers across the world are shying away from guarantees or coming up with ever more complicated products, people are given little help in answering these important questions:

1. Am I saving enough for retirement (and when can I retire)?

2. Am I investing safely?

3. Can I afford to live for a very long time?

This paper proposes some solutions that are simple to understand and implement, very valuable to the consumers, and yield no or very little risk to the pensions provider. The  paper and even more so the presentation will focus on describing the core ideas and how these would play out for the consumer over time, rather than delve into the technical aspects of the solutions. The proposed solutions will be illustrated by comparing their effectiveness with other popular retirement forms.

To ensure that enough is saved for retirement, a model with carefully chosen financial goals is constructed. For the individual consumer the model translates into simple, actionable advice about pensions contributions. These ensure convergence to a recommended level of savings.

Investment risk can be handled by implementing dynamic hedging directly on individual consumer's portfolios - a concrete model for this is proposed. This can provide risk management for the consumer without capital requirements for the pension provider.

Lastly, the paper argues for the extreme importance of ensuring that consumer's have enough longevity cover, i.e. life annuities. Longevity is in fact the largest financial risk that people face when planning for retirement. Again the paper proposes how this can be solved with very little risk.