Pension choice ‘poorly explained’
Some pension schemes are failing to give enough information to their members when they are about to retire, the Pensions Regulator has said.
Some defined contribution (DC) schemes were not briefing members properly on how to use the cash from their schemes to buy a pension, a survey found.
A survey of literature from 97 DC schemes found that 30% were in breach of pension regulations.
A small minority of schemes, 6%, needed “substantial changes” to their advice.
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