With estimates of as many as 150,000 people each year failing to shop around for a potentially-better annuity deal, execution-only broker Hargreaves Lansdown has published a five-point blueprint for retirement income reform.
It said it had consulted regulators, government departments, trade bodies and consumer groups before developing its ideas. Hargreaves' blueprint for retirement income reform 1 Make pensions easy to understand: No more gobbledy-gook. Clear, simple messages are required, so we'd like to see annual pension statements with very clear messages about how much income investors are likely to get in retirement. 2 Make shopping around easier to understand: The Pensions Passport. The Financial Conduct Authority inherited its rules on the Open Market Option from the Financial Services Authority...
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