Kevin Pacey discusses the challenges for advisers and clients in the at-retirement market and looks at how the increasing choice affects how advisers give advice
In 2007 premiums in the UK pension annuities market were over £11 billion. Over the last 15 years it has tripled in size and, due to an ageing population, this trend is set to continue. However, demand is not the only thing that is increasing. With more and more defined contribution pension schemes heading for maturity, advisers are being challenged with increasing product choice in the at-retirement market. The at-retirement market requires advisers to have a solid understanding of the options available and how they suit the client's needs. Only once the exact shape of the annuity has ...
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