The real risk in the new pension system (whereby, subject to income tax, you can withdraw or invest your pension money as you like) is not the greed and incompetence of British pensioners, as often suggested by idiots who say they’ll blow it all on a holiday, but the greed and incompetence of the financial industry.
What pensioners need if they are to maintain their investments and get an income from them during retirement is some new and effective products.
Funds that split returns by type – paying the capital gains to savers who aren’t yet retired, and the income [...]
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