Default guidance needed to embolden consumer freedom

The retirement income market has undergone profound changes due to “pension freedoms”. Since its introduction, the ILC-UK has been at the forefront of understanding the potential consumer risks and opportunities associated with the reform. In this special extended blog, Ben Franklin, Head of Economics of Ageing, takes stock of where we are and proposes further reform to embolden consumer freedom through embedding informed decision making at the point of retirement. He argues that a critical first step to achieving this aim will be default financial guidance.   Continue reading