The two most common structures of retirement accounts and pensions are defined contribution and defined benefit. One alternative, defined ambition, a structure where payouts are adjusted based on returns in a predetermined fashion preventing underfunding from poor investment results is not unique to the tontine but is part of the structure of McClelland’s new modern tontine. As well, McClelland and Wiethe explore the psychological effects of tontine structuring and how throughout history it has proven to be a superior fundraising and savings inducing mechanism.