Politicians have painted annuities as ‘toxic products' but guaranteed income is the bedrock of retirement for the majority. Providers are betting on simplified advice to square the circle, writes Jenna Towler
When it comes to establishing effective mass market retirement advice, political thinking is "frankly pathetic", according to Royal London chief executive Phil Loney. Speaking at the Personal Finance Society 2014 conference, he said "developing a workable, affordable advice framework for the vast majority of ordinary people in the UK", as well as increasing financial literacy levels, should be key priorities for the next government. However, he told the audience of advisers: "They are not ambitious things, but frankly the level of thinking on them in most of the political parties is p...
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