Ros explains why she believes that driving down charges too far could dumb down pensions and that controls on annuity charges and value for money is far more important than whether AMCs are 0.5% or 0.75%.
Ros explains how the annuity market is failing millions of potential widows, whose husbands do not understand the implications of buying a single life annuity
Ros explains why the focus on charge caps for auto-enrolment pension schemes is not enough to ensure good value for customers. NEST’s own charging structure and the excessive fees on annuities are also important issues to address.
The Government’s launch of its consultation on Defined Ambition pension schemes is an attempt to pass back some of the risk and cost of pensions onto employers, rather than leaving all the burden on members in DC schemes.
This is a transcript of Ros’ contribution to the Westminster Forum Panel Session on Annuities at which she gave her views on how the market is not working for the customer.
Ros wrote a major report sponsored by MetLife Insurance which highlights what has gone wrong with UK Defined Contribution pensions and how they need to change to fit 21st century realities. Niether the accumulation nor decumulation products are fit for modern lifestyles.
Ros explains why criticism of the USS pension scheme is unfair
Ros was on BBC Breakfast TV on 23 October explaining some of the important issues surrounding pension saving – including saving more and also considering working longer.
Simon Read of the Independent supports Ros’ calls for people to be given proper risk warnings before they buy annuities since they can lose all their money.
Ros wrote a Foreword for the ‘WhatInvestment Guide to Income Drawdown’, explaining the risks of annuity buying and why Income Drawdown should be considered by many