Up £10bn year-on-year
Fundamental problems with the shopping around system for annuities must be addressed before pension freedoms being in April, experts have said.
Wake-up packs for people approaching retirement should be scrapped in favour of a simple pensions passport to help make it easier to shop around, Hargreaves Lansdown has said.
Helen Morrissey talks to Hargreaves Lansdown's head of pensions Tom McPhail about the challenges facing the retirement income market and how the Pensions Income Choice Association is trying to meet them.
Stephen Lowe outlines the thinking behind the recently launched Pick-A directory and looks at how it can facilitate shopping around for a retirement income.
Advisers are being invited to sign up to a free-to-view public directory which aims to connect pre-retirees with brokers to help them secure a better pension income.
Retirement Planner's round-up of the top pension stories this week.
The recent launch of the ABI's Annuity Window has sparked debate as to how best to serve retirees. Helen Morrissey asks what constitutes a good quality shopping around service.
The Pension Income Choice Association (PICA) has appointed The Annuity Exchange to build a new directory of retirement income intermediaries.
The "high profile" of Tesco will boost retirees' inclination to shop around for the most appropriate pension income product after the supermarket giant announced it is to launch an annuity comparison service, according to Tom McPhail.