Stephen Lowe outlines the thinking behind the recently launched Pick-A directory and looks at how it can facilitate shopping around for a retirement income.
One aspect of the annuity market that doesn't get much attention is that in many cases it functions perfectly well. Each week thousands of retirees shop around and exercise informed choice in buying a guaranteed income for the rest of their lives. Many are able to secure a higher income due to a medical condition or lifestyle factor. Understandably, attention is focused on those who are not so well served and the resulting £1 billion a year of lost retirement income. The biggest factor in why some lose out and some don't isn't lack of options, products, information or support, but lack o...
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