The FCA’s growing focus on retirement outcomes is hard to ignore following the release of their Thematic Review of Retirement Income Advice and their more recent Occasional Paper on engaging customers to review their pensions. The number of people accessing their pensions has been steadily increasing every year and, according to the UK regulator, so too has the risk of poor outcomes.
Almost 10 years since Pension Freedoms came into force, we apply a behavioural lens to review some of the success stories for engagement, retirement planning, and outcomes – along with areas that the regulator has highlighted for improvement. As individual circumstances become more complex, the industry needs more consistent and robust ways to support individuals with personalised advice to meet their goals and objectives.
Watch now as Oxford Risk's Head of Product, Dr Alex Chase covers the following key learning objectives:
- Understand what the UK regulator says about retirement outcomes
- Understand issues that can affect risk profiling for clients in accumulation and decumulation
- Understand how accounting for behavioural biases can impact pension engagement
- Understand issues that can arise when combining guaranteed income and investment drawdown for clients
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