Vince Smith Hughes talks to Retirement Planner about the challenges facing retirement advisers and how adequate assessment of risk is all important when choosing an at-retirement product.
People moving into retirement today are faced with low gilt yields, rising inflation, decreasing annuity rates and increasing longevity. How much do you think people know about the impact of these factors on their retirement income? Vince Smith-Hughes: If I'm going from the feedback that I get from advisers then I would say the average person doesn't know very much about these issues. One adviser said to me that many clients are stuck in the past and still think they are getting 5% interest rates on money saved in a bank account and so when you offer them 5% on an annuity, having given u...
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