The Pensions Regulator has publishes guidance on retirement options

The Pensions Regulator has published guidance on retirement options that reminds trustees to ensure members are aware of their right to exercise the open market option, whereby they can use their fund to buy an annuity from an insurance company of their choice and opt for the best deal available. The guidance also encourages employers who have defined contribution schemes to ensure members receive an appropriate annuity that is good value for money. They can do this by encouraging members to seek financial advice on the best pension option for them.