TPR: Industry must do more to support members' retirement income choice

The regulator's recent governance survey showed "encouraging improvements" with over 90% of trust based schemes encouraging members to seek independent advice. However, O'Higgins told Pensions and Benefits Show delegates that more needed to be done to improve member outcomes. "I'm concerned that in the present low interest economic climate, purchasing a conventional annuity may not provide the best retirement outcome for many people, yet the majority of DC plan members follow that route," he said. "I believe that DC trustees can add value for members by communicating the alternatives ...