McPhail heads up retirement income body

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 i...