The pensions freedoms gives consumers more choice with what they do with their savings than ever before, but the industry's response must not be a flurry of new products, according to Axa Wealth's David Thompson.
With increased choice comes increased risk. And the risk for managing a personal pension post-April when the new freedoms are introduced sits more firmly with the man on the street. People will need to consider more carefully how much they need to cover the essentials, such as food and housing, and where it's coming from. As well as how much they may like on top, to do more of the things they like or want. So what's our role as an industry to help this? In retirement the financial risks people face are different to when they are working. With the opportunity to add more money t...
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