Default option for decumulation 'is crucial but challenging'

Law firm Macfarlanes said a default option would help to remove risk that trustees and employers face in terms of making decisions and giving guidance. This follows calls from Just Retirement to create a "clear divide" between the accumulation and decumulation market to prevent people from sticking with a provider simply due to inertia. Partner Camilla Barry said: "It may be useful to think about having a default as well as pathways. People that don't make choices would be tipped into the default option which may be capped drawdown with purchase of deferred annuity - a model product t...