Altmann calls for 'specialist' at-retirement advice as Budget changes kick in

The money currently spent on fees and commissions "just for buying an annuity" could be used to fund specialist basic at-retirement advice, she said, adding funding could also be boosted by government and industry. The provision of advice and the development of new products are the biggest challenges for policymakers, Altmann said. "The challenge is to ensure people can access affordable advice that is impartial, independent and not driven by product sales, as well as facilitating new products that are more flexible and adaptable to modern life. Annuities may be right for some people,...