The National Association of Pension Funds is investigating steps it can take to help DC members get a better deal at retirement - hinting at the launch of a broker service.
NAPF chief executive Joanne Segars (pictured) said there was too much focus on the accumulation phase of pensions - and there was too little support when it came to taking an income. She said: "We can't have a situation where we are relying on inertia and defaults when people are saving, only for them to be left all at sea when it comes to taking that income. "NAPF's research shows that £1bn leaks out of the annuities market each year because people get the wrong annuity for their lives or a poor value annuity." Segars added the current system was not working for many. She said:...
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