The challenges of default retirement income solutions

Martin Richmond looks at how the industry could respond to default decumulation duties

Martin Richmond
clock • 18 min read
The challenges of default retirement income solutions

The Pension Schemes Bill, announced in the King’s Speech 2024, will require pension schemes to offer retirement products, so people will have “a pension and not just a savings pot when they stop work”.

The bill will do this by placing duties on trustees of occupational pension schemes to offer guided retirement products to members, including "a retirement income solution or range of solutions" an...

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