Royal London to issue wake-up packs five years before retirement

Current rules mean providers must issue a pre-retirement wake-up pack six months before they are due to take benefits. However, Royal London will now send its customers their first information five years before retirement. It said it hoped people would use financial advisers to get the most out of their pension pots. After the initial contact, savers will get an updated retirement engagement pack each year just after their birthday.  Royal London said when customers are within a year of retirement they will get a 'wake-up pack' at both six months and three months before retirement....