Guaranteed retirement income must be 'default option for DC savers'

Helen Morrissey
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The government should ensure a decent guaranteed income is the default option for defined contribution (DC) retirees, according to the Strategic Society Centre.

This was one of four policy recommendations put forward by the think tank in its Income Security and a Good Retirement research. Other recommendations include educating workers about the role secure income plays in a good retirement. This should also be covered in guidance and information from Pension Wise. The research analysed data for more than 2,000 retirees in England in receipt of a private pension and looked at the difference the level of guaranteed income had on people's experience of retirement. This included participation in leisure activities and life satisfaction. The a...

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