The value destruction of a savers’ pension at the point of retirement is “huge” and personalised guidance is vital to prevent members knocking out years of savings, according to industry experts.
Speaking yesterday (27 April) at the Legal & General Investment Management (LGIM) defined contribution (DC) summit, head of multi-asset funds John Roe said: "Value destruction at the point of retirement is huge - the risk that someone does something stupid at retirement because they can't afford advice is so big." He revealed the concern has reached a point where "the government needs to intervene to help", and argued that "more focus is needed from a regulatory perspective because someone looks after you up to retirement and in a lot of cases it all falls apart at retirement". Head o...
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