'Extremely worrying' lack of understanding about pensions among savers

Research commissioned by specialist pension provider Partnership has shown that 76% of people questioned did not know that switching their pension provider could save them money. Only 60% of the 2,000 respondents aged 45-65 knew that their gender had no impact on their annuity income, while only half realised that they would receive more money if they retired later. The vast majority was also not aware that by taking an annuity with their existing pension provider they risked reducing the amount of income they get and very few realised that if they were in ill health or had a medical ...