McPhail heads up retirement income body

clock

Tom McPhail is heading up an industry initiative to tackle Britain's decumulation crisis.

Living Time, MGM Advantage and Partnership Assurance have joined forces to promote the range of options available to investors in retirement. McPhail, head of pensions research at Hargreaves Lansdown, has been chosen as the group’s interim chairman and will prepare the new body for its formal launch. He says many people in the UK already have inadequate pension savings, and are making their retirement worse by not getting the best income products available to them. “Last year only 33% of people used the open market option to seek a better deal,” says McPhail. “What is more, it is import...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Smoothing the dash to drawdown: Defending against sequencing risk and volatility drag

Smoothing the dash to drawdown: Defending against sequencing risk and volatility drag

'A new class of on-platform smoothed funds could be particularly useful'

James Tothill
clock 25 November 2025 • 4 min read
Doug Brodie: Using investment trusts to solve the drawdown problem

Doug Brodie: Using investment trusts to solve the drawdown problem

Part one in a series...

Doug Brodie
clock 14 November 2025 • 4 min read
'A hard act to beat': Annuity pricing and value for money

'A hard act to beat': Annuity pricing and value for money

‘People cannot have their cake and eat it (although they try)’

William Burrows
clock 04 November 2025 • 5 min read