Just how much certainty do we need?

First Actuarial’s Henry Tapper says the public is not hell-bent on guarantees

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The government's statement in the foreword to the defined ambition (DA) consultation paper, that we need more certainty in retirement, is bizarre. Its obsession with guarantees is not shared by those it governs.

As an example, let's just look at the rule that you need guaranteed income of £20,000 to use flexible drawdown. Assuming you qualify for the full state pension, this means you must have alternative...

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