Gareth Shaw, Which? Money Expert, said:
“Good default pathways at retirement would help stop disengaged savers from sleepwalking into costly and confusing products that can drain money needed for retirement. The regulator must ensure such protections are in place for those opting for income drawdown products.
“The Government also has a massive opportunity to finally boost engagement in retirement decisions with the pensions dashboard, but it must act swiftly if it is to meet the 2019 deadline. All providers must feed into the dashboard with clear and accessible information – only then can people properly plan for retirement.”