Webb: Should decumulation be done differently?

Speaking at the launch of the Scottish Widows UK Pensions Report Webb referred to decumulation as "a jigsaw we haven't given enough time to." "Decumulation is something we have made progress on but there is a bigger debate to be had," he said. "Current decumulation practices are still based on the market of thirty years ago and we need to ask if we need to do decumulation differently." Shadow pensions minister Gregg McClymont agreed the area needed renewed focus. "Do we think the pensions market works effectively based on the idea of the informed consumer? In many cases no," he sai...