Better at-retirement client support 'essential'

Helen Morrissey
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New standards of advice are needed to help scheme members navigate the increasingly complicated retirement income market.

Annuity Direct's Alan Higham told delegates at the National Association of Pension Funds (NAPS) conference the market needs to move away from purchasing annuities in a tick box exercise and move towards offering the member more support. Without this support he said lack of knowledge about the options available could result in poor member outcomes. "Inflation is the biggest problem when it comes to purchasing an annuity," he said. "However, people also don't realise they can get a better annuity rate if they disclose their health conditions." According to Higham retirees could see 2...

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