Product innovation to allow for greater flexibility is needed to support changing retirement trends, according to research from the Pensions Policy Institute (PPI), which found that savers would benefit from having both flexible and guaranteed income in retirement.
The research pointed out the future pensioners will be more dependent on defined contribution (DC) savings, as they are less likely to have a defined benefit (DB) pension safety net, and may also face increased levels of financial risk.
In addition to this, the report noted that retirement patterns are changing, as people work longer to provide for themselves or prefer a more […]
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