Thousands of members 'trapped' by small pension pots

Jonathan Stapleton
clock

Thousands of scheme members with small personal pension pots are being "trapped" by poor annuity rates or lack of access to the market, Malcolm McLean says.

The Barnett Waddingham consultant said people with pension pots under £5,000 were facing significant problems securing annuities as most insurance companies will not quote on pots below that level ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Reeves  to create LGPS and DC 'megafunds' in Mansion House growth bid

Reeves to create LGPS and DC 'megafunds' in Mansion House growth bid

Chancellor to unveil ‘biggest pension reforms in decades’

Martin Richmond
clock 14 November 2024 • 3 min read
Partner Insight: Are private market investments a risky business for DC pension savers?

Partner Insight: Are private market investments a risky business for DC pension savers?

A 2024 survey carried out by Legal & General shows that DC contributors have a generally very positive attitude to private markets investing.

Rita Butler-Jones, Head of DC, Legal &General
clock 11 November 2024 • 7 min read
Partner Insight: Not all 'alts' are created equal

Partner Insight: Not all 'alts' are created equal

Many DC providers now offer alternative investments, promising diversification away from traditional markets. Can they all deliver?

Chris Parker, Man Group
clock 05 November 2024 • 6 min read
Trustpilot