Many over-55s can't cope with pension freedoms - it may now be time to scrap them

Citation

Comerford D (2019) Many over-55s can't cope with pension freedoms - it may now be time to scrap them. The Conversation. 25.11.2019.

Abstract
First paragraph: For decades, the UK pensions industry could have been described as sleepy: a lack of vim and vigour borne of long time-scales and limited innovation. Come April 2015, everything changed. The UK government scrapped the system that all but forced retirees without final salary schemes to buy an annuity with the money they had saved in their pension plans. Instead, those reaching the age of 55 were suddenly gifted “pensions freedom” to invest, cash-in or annuitise their savings.

Keywords
financial advice; annuities; UK election 2019

Notes
https://theconversation.com/many-over-55s-cant-cope-with-pension-freedoms-it-may-now-be-time-to-scrap-them-127478

People

Professor David Comerford

Professor, Economics