Shaw commented that making sure that medical histories are properly considered alongside dependent and index linking needs means each case was different, and advice could therefore make "all the difference" to the outcome.
Matthew Morris of Retirement Review, which partnered with iPipeline in 2023 to carry out a report into the state of Briton's retirement savings, said: “Adviser and pension providers recognise there is a huge opportunity to build a better retirement for the UK in the coming months."
He said there was an appetite from politicians and the wider state to create a more dynamic framework, but said there was "so much change in the sector that it’s hard to establish any kind of consistent retirement structure to work within".
Morris added: "As an industry, we need urgently to work out what we want and develop a roadmap of how to get there, otherwise someone else who doesn’t understand the needs of savers will do it for us.”
simoney.kyriakou@ft.com
