Blog: Guaranteed retirement income is more than a pay cheque

What's the difference between a pound of savings and a pound of guaranteed income? On the face of it, not much - you can always spend the savings or save the income. Yet new research suggests that, for retirees, one of those pounds will make for a more satisfying retirement than the other. The findings raise important social policy points in the wake of the freedom and choice pension reforms which overturned the idea that pension savings are primarily intended to provide income through retirement. The government has instead adopted a neutral stance towards how people use their p...