14th May 2019
Freedom and choice in pensions revolutionised the world of retirement income and gave individuals greater control over their retirement plans – but with this comes increased risk and responsibility for all.
With this in mind, WEALTH at work conducted a survey* with Pensions Management Institute (PMI) to investigate what Trustees are doing to support pension scheme members as they make decisions to access their retirement savings.
Key findings include;
The report suggests that these concerns and risks could be mitigated by providing more support for members at-retirement which includes offering financial education, guidance and access to regulated advice, as well as helping members to implement their chosen retirement income option(s).
For more information, please contact us.
* The survey received 65 responses from a range of Trustees which were completed online and via paper over 4 months from December 2018 until March 2019. Figures have been rounded to the nearest whole number or to one decimal place where appropriate.