Retirement isn’t what it used to be. The shift from Defined Benefit (DB) to Defined Contribution (DC) schemes and new pension freedoms are reshaping how millions fund their retirement. Our study with NMG Consulting reveals insights from consumers, advisers, and experts, highlighting key opportunities for enhancing guidance and product innovation. To learn more about this year’s retirement study, watch the overview or explore the key themes below.
Many retirees struggle with complex income decisions, leading to poor financial choices. This results in low yields, diminished tax advantages, and unnecessary frugality, reducing their overall quality of life.
Early retirement advice helps clients understand options and set realistic expectations. However, rising documentation and compliance costs limit access for lower-wealth clients; targeted support could improve access to guidance.
There is a need for more retirement solutions offering sustainable income, personalisation, and flexibility. Hybrid solutions can address the need for both guaranteed income and investment growth, while effective default options guide unadvised retirees through decumulation.
Retirement isn’t what it used to be. The shift from Defined Benefit (DB) to Defined Contribution (DC) schemes and new pension freedoms are reshaping how millions fund their retirement. Our study with NMG Consulting reveals insights from consumers, advisers, and experts, highlighting key opportunities for enhancing guidance and product innovation. To learn more about this year’s retirement study, watch the overview or explore the key themes below.
