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.
Please click here to view the results.
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.
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