LCP calls for mass market default switch to annuities

A ‘flex first, fix later’ product would seek to achieve the best of both worlds for retirees

clock • 4 min read
LCP calls for mass market default switch to annuities

A ‘flex first, fix later’ pension that would switch to annuities when retirees are in their late 70s early 80s would combine flexibilities and guaranteed income in a way that could help people have better retirement outcomes, according to Lane Clark & Peacock (LCP).

The consultancy's report said this type of pension could be introduced as the unadvised, mass market default post-retirement option for workplace pension savers. It would start as regular drawdown ...

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