Although A-day seems to have encouraged more people to take advantage of the Open Market Option for annuities, more still needs to be done warns Just Retirement.
The firm says the latest sales figures from the Association of British Insurers (ABI) reveal more than 50% of pension funds took the OMO, suggesting people aer becoming more awrae of the better annuity deals available just by switching provider at retirement. However the specialist life assurance firm says its own survey of 220 people, reveals 69% of people would still rely on their existing pension provider to decide what to do about their finances on retirement. In addition the findings show 64% believe retirement will not significantly reduce their living expenses, while almost three...
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