'More clarity, not choice' says shadow pensions minister

Bombarding people with more options from an industry they do not understand will not help them save more, he told a debate today on How to engage with pensioners of tomorrow: Making retirement (options) more accessible. "Everyone is always talking about the benefits of more choice. All evidence suggests people hate choice. It scares them and makes want to do anything else but confront the problem," he says. Instead the industry must combat a "high degree of financial illiteracy and far too much complexity" especially among young people who need to be persuaded to save for retirement, ...