. • Catherine’s portion of the presentation covered: retirement income choices; conventional pension options such as income drawdown and life annuity; research on new structures, underpinned by longevity risk sharing (whereby the shorter lived subsidise the longer lived, upon death, money is shared to others in the fund who are alive), to produce other options to suit people’s risk appetite; an overview of the UK pension situation following the introduction of automatic enrolment via an opt-out scheme; defined contribution pension plans and difficulties converting this into an income at retirement age; proposal for longevity risk sharing structures as a potential new option to allow individuals to decide how much longevity risk and investment risk they want to bear, e.g. via a pooled annuity fund; enabling retirees to live with a better quality of life.