Ditch the pension jargon to create a transparent industry

Michelle McGagh
Old man reading a book
Old man reading a book

Annuity providers are going to have to provide consumers with more information about their products and rates under new rules, but will it really help us understand pensions any better?

The beauty of pensions, for those in the business at least, is the amount of technical mumbo-jumbo that surrounds them. It allows the pensions companies and their consultants to sit around discussing issues that affect consumers' pensions and how much income they will receive from them in retirement without actually thinking about whether the consumer will be able to understand any of it.