Retirement Planner - November 2013

Helen Morrissey
clock

The latest digital edition of Retirement Planner is now available to read online.

Read the latest Digital Edition of Retirement Planner

Increasing OMO take up only part of the battle

We have been talking about increasing take up of the open market option for some time now. However, what is becoming clear is that increasing OMO take up is just one part of the battle if we are to improve retirement outcomes. 

Many of the services on offer operate on the assumption that an annuity is the right product to buy at retirement and encourages retirees to pick the highest number and feel they've got a great deal. Such an approach leads people to dismiss options such as income drawdown too early on in the process.

While annuities are the right option for many people more care needs to be taken as to making sure the right type of annuity is chosen. Does the retiree have health issues for instance? Can they afford to take investment risk and do they want an income that rises in line with inflation? Timing is another important factor. These are just a few of the considerations that need to be discussed with clients looking to take a retirement income.

Purchasing a retirement income is an important -and sometimes a one-off - decision and retirees should not be left to their own devices. I hope that when Steve Webb sets up his decumulation task forces he urges them to look at how these people can access appropriate advice and support to help them with their decision.

Helen Morrissey
Editor, Retirement Planner 

More on Investment

Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read
Schroder Investment Solutions expands distribution of MPS

Schroder Investment Solutions expands distribution of MPS

Expanding the range of DFM choice on the Parmenion platform

Ayesha Venkataraman
clock 06 December 2022 • 2 min read

In-depth

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
PA Awards 2024: Winners' photo gallery from the night!

PA Awards 2024: Winners' photo gallery from the night!

The industry's best were celebrated in London last Wednesday

Professional Adviser
clock 26 March 2024 • 1 min read