Retirement Income  

Maps 'should provide better financial guidance'

Another suggestion was for Maps to provide targeted pensions guidance for people aged 50, although some thought a better suited age for this would be 55.

Tailored guidance for people in this age bracket could help people focus on how to manage their pension pots in the best way, some respondents stated.

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Others believed that rather than targeting those approaching retirement, Maps should focus its resources on educating the younger generation to get them engaged with their pension from an early age.

In its response, the PLSA also called for Maps to adopt its forthcoming retirement income targets, which will be launched in October, on the Maps website and on the pensions dashboard which will be hosted by Maps.

Pensions dashboards will ensure people throughout the UK have easy access to key information about what pensions they have, who manages them and what they are worth.

The government confirmed in December it will introduce multiple pension dashboards, with the first one, developed by the Money and Pensions Service, expected in 2019. 

amy.austin@ft.com

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