Aegon urges adviser focus on decumulation market

The insurer is calling for a complete review of how people decumulate their assets following research suggesting a high level of ignorance about all but the most common income options. "People firmly believe accumulation is the main determinant of their financial well-being and have limited awareness of the importance of their decumulation choices," says Jean Taylor, associate fellow at OPM, which carried out the research for Aegon. Income decisions focus on annuities and when to draw down pensions for the majority of people, with most participants in the study unaware of alternatives...