Major employers fail to help DC members annuitise - JLT

Almost half (48%) the respondents to JLT Employee Benefits' latest 250 Club Report said they did not know if their scheme had such a process, while three out of ten (29%) said their scheme did not. The report, which surveys the country's biggest private sector employers, said this was a concern as members were losing out by between £500m and £1bn a year by failing to shop around. It said: "Ensuring that members get the best deal at the point of retirement or decumulation is all the more important with retirement itself getting more and more expensive." The report also found that a ...