- Helping members of occupational pension schemes to better understand their benefits.

18th November 2019
:: Blog | July 2008 (14 blogs) | Is it ignorance or...

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Is it ignorance or indifference about pensions and annuities?
I still find it amazing that two thirds of people approaching retirement don’t fully investigate all of the options available to them with their pension funds. Is it ignorance or indifference? Are pensions and annuities so difficult to understand or is it just that pension education and pension communication has been so poor?
If the average retirement pot is around £40,000, then a significant number of people will have substantially lower pots than this. And once they’ve taken their cash lump sum, there’s even less left to buy a retirement income, so is it still worth shopping around with such small pension pots?
Of course it has to be. No matter what’s left, investigating the Open Market Option seems to me to be a ‘no-brainer’ and the media is full of articles and research about the ‘at retirement’ market.
For a typical example, see:
Mike Jones,, 11th July 2008

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