It is essential retirees explore all their retirement income options before making big decisions such as buying an annuity, national IFA LEBC has said.
The firm made the comments ahead of new rules, which come into force on 1 March, which mean all pension providers that sell annuities must produce a market comparison alongside their own offer so customers can judge whether they are being offered a good deal. LEBC welcomed the rules as a step in the right direction towards improving consumer awareness on shopping around but also said retirees can achieve even better outcomes by fully exploring their options, such as remaining invested through drawdown. LEBC director of public policy Kay Ingram said: "While the perception is that annu...
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