One of the biggest risks a defined contribution member faces is choosing the right way to take their retirement income.
Advice is invaluable. But often people can’t afford the advice, and it doesn’t make financial sense for the adviser to offer their services. The FSA over the last few months has been taking a closer look at open market options, hard on the heels of the Treasury’s review last year. The Treasury’s work concluded not enough people were taking an open market option. But I think that misses the point. It is not the number of people actually taking an open market option that matters. It’s the number of people considering an open market option. In a competitive market it may not make financial ...
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