Evaluation of a Multi-Factor Retirement Planning Tool: The Reliability and Validity of the Retireability Score (RS)

Created by senior wealth advisor David Allard, Retireability Score (RS) is an innovative web-based retirement readiness assessment survey that plays an integral part in the retirement planning service operated by the Navigation team of ScotiaWealth. Unlike majority of retirement planning services, which focus exclusively on financial readiness, the RS and its associated program address non-financial aspects of retirement planning that are also important to ensure a satisfying life in retirement. These areas including health, social, and various psychological factors of readiness for retirement. The current project is a scientific evaluation of the RS aiming to improve its content and accuracy. Through analysing existing data on the RS and comparing its content to published scientific literature on well-being in retirement, we will determine whether the RS can accurately measure clients needs for planning in areas that are important to their well-being in retirement. Results from this research will inform future iterations of the RS and help enhance the service quality and cost-effectiveness of the RS program.

Intern: 
Ran Wei
Faculty Supervisor: 
Brian O'Connor
Province: 
British Columbia
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