Retirement planning generally includes a focus on decisions needed at time of retirement, but it often fails to focus on changes during retirement and additional decisions needed as people age. The 2021 SOA Risk Survey and other SOA research documents the lack of focus on future change. It is common for people to lose cognitive ability and generally to become less able to make decisions, manage their finances, their medical care and their lives at high ages.This panel focuses on communication and decision issues.
The SOA has recently issued a decision guide on High Age Decisions. The brief identifies four domains for high age decisions:
·Health, health care and staying healthy
·Managing finances
·Housing and transportation
·Support networks
The panel will include a discussion of communications and how we change, problems of physical, hearing, sight or cognitive decline and the challenges created and the four domains in the SOA Decision Brief.