A national register of IFAs willing to provide annuity advice for people with small pension pots should be created, according to the Pensions Income Choice Association (PICA).
Launching a series of recommendations today, PICA chairman Tom McPhail says more support needs to be given to help advisers serve customers with less than £50,000 in pension savings. The newly formed association launched its flagship report this morning, titled Optimising Value in Retirement, setting out a three-stage communication process for pension providers. Effective early communication should lead to improved outcomes for consumers and a greater uptake of the open market option (OMO). PICA is hopeful the moves will help improve incomes for retired people, but says it is vital t...
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