UK Retirement Planning Market Trends Report 2018 – ResearchAndMarkets.com
The retirement options open to consumers today have expanded since pension freedoms were introduced. But freedom of choice brings with it the freedom to make mistakes.
Over one-third of adults aged 55-64 who are not retired have taken money from their pension pots and over one-quarter of adults in this age group who have withdrawn money in the past two years have taken the whole pot in cash: in other words, they will not be able to generate a pension income from these pots. Pension freedoms have been used especially heavily by individuals with small and medium-sized pension pots to release the cash within them, even if that means paying marginal rate tax on the 75% of the withdrawal with is subject to tax.
A real concern is that except with moving pots into drawdown, consumers often make decisions on their pension pots without getting professional, financial advice. There is a clear advice gap, especially when it comes to individuals taking all the pension fund as cash and the tendency to get advice seems to be declining.
The main purpose of this report is to review the
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Key Topics Covered:
1.0 Executive Summary
2.0 Introduction
3.0 Market Structure
4.0 Market Developments and Drivers
5.0 The Key Players
6.0 Market Size and Trends
7.0 The Future
For more information about this report visit https://www.researchandmarkets.com/research/xbffrl/uk_retirement?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20181012005168/en/
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Related Topics: Pensions, Personal Finance
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