This is a wonderful post from someone I hope to shake by the hand.

There is no better advertisement for a change in ways of planning for a wage in retirement than by looking at what the current system’s outcomes are. Read on…

I hope to have time this week to study the latest publication or retirement income market data, but Charles’ points are those that have been made in previous years. For a generation of savers who have come to the point of drawing down, then there is currently no default option that can give them a way to turn pot to pension. This is what the Pension Schemes Act is bringing in but we won’t see “guided retirement” or “retirement CDC” till 2029.

There is no good reason why we should save into a pot if we intend to draw a pension. Why not cut out the whole difficult decision about what to draw and have a pension paid to you by trustees who are authorised by a Pensions Regulator.

I hope that employers who read this blog will follow the link in Charles post (and here). The FCA have been collecting this data since 2015 when freedom from having to buy an annuity with the pot was introduced.  The FCA data is  factual proof that pension freedom has done , is doing and will do enormous damage to older people’s financial plans. We do need the change that is on its way.