The UK is currently a nation of “confused” pension savers but changes such as the introduction of targeted support mean financial services is at a “great point in time” to help people get better outcomes, delegates heard.
Speaking at a panel debate at the Retirement Review report launch on 8 May, Standard Life retirement savings director Mike Ambery said the industry was at a "crossroads". He said there was a complicated pensions picture in the UK that had left consumers confused over issues such as multiple pots, inadequate levels of saving due to being pushed into default funds and difficulty reaching decisions at the point of decumulation. Ambery said Standard Life research had shown 17 million people were inadequately saving and there was a clear "level of confusion" among pension savers. Howeve...
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