SSGA: Default deferred annuities need to be opt-in

There are legal hurdles around purchasing an annuity for members without their consent

clock • 4 min read
SSGA: Default deferred annuities need to be opt-in

An opt-out default deferred annuity strategy is unlikely to work due to the legal hurdle of purchasing an annuity on behalf of the member without their explicit consent, according to State Street Global Advisors.

Speaking at the Society of Pension Professionals' online conference today (8 September), senior defined contribution (DC) investment strategist  Olivia Kennedy said the UK pensions industry is like...

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