Key aspects of the retirement landscape

11 February 2020

It is now five years since the announcement of pension freedoms, and four years since they were passed into legislation. In the grand scheme of things, it is still very new, but that has not stopped retirement outcomes being the subject of regulatory scrutiny.

These key legislative changes have left advisers with a requirement to quickly adapt their processes to ensure they continue to be fully compliant.

The retirement landscape

Low annuity rates caused by low gilt yields, as well as a lack of flexibility and perceived poor death benefits, has meant many pension savers no longer wish to tie themselves into an annuity for the remainder of their life. Pension freedoms now mean they do not have to.

It is particularly important for advisers to understand the retirement landscape, and have good knowledge of the range of solutions which exist. To help advisers, Defaqto has produced a CPD-accredited guide that explores the key aspects of regulation surrounding a retirement strategy, and the more recent changes and updates.

Constantly evolving

“The financial advice landscape is constantly evolving and advisers are facing multiple challenges from a regulatory perspective. With so much noise in the market, the retirement space can be difficult to navigate. With the pivotal role that financial advisers have, it is key that they take the time to understand new products launching in the retirement space in their entirety” says Andrew Duthie, Insight Consultant (Wealth).

“In our CPD accredited guide “Balancing pension freedoms and risk in the modern advice world” we aim to help advisers understand how they can best ensure they’ve applied a duty of care to their clients, researching the entire market, as well as considering the benefits of the type of structure applied by Canada Life” he continues.

Want to learn more?

For more details, and to gain further understanding of pension freedoms and risk, download our CPD accredited guide, Balancing pension freedoms and risk in the modern advice world, for free here.

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