Pensions: alternatives to annuities are worth a closer look for retirees.

11th March 2011

“The key issue with all of this, is that employees need to rethink their retirement plans now – whether saving towards retirement or taking an income to live in retirement. It is essential that employees receive suitable financial education and guidance in the workplace to understand what can be achieved through saving and what retirement income options are available so they may make informed decisions. Annuities are generally irreversible which makes these decisions very important and often one of the biggest financial decisions of their lives. Readers should see what retirement saving and income education is available at their place of work to ensure they understand the consequences of their choices. The Pension Regulator is likely to take further action if employers do not start to make provision for this.”

Please see The Scotsman to read the article in full.