The regulator found that some firms were not taking account of the needs of their customers.
All Retirement Stories
By comparison, only 28% of those planning to retire later have a clear plan.
While many of us eagerly look forward to a leisurely and peaceful retirement, later life can also be fraught with vulnerability. Tim Farmer, clinical director at Comentis, discusses...
The merger will create a retirement-focused platform for nearly 5,000 advisers.
The research indicates a particularly concerning outlook for disabled people, more than half (51%) of whom are set to face poverty in retirement.
Tom completes nine years with Canada Life this month.
Aegon says Consumer Duty demonstrates the value of advice to create a sustainable, resilient and tax-efficient retirement plan.
Advisers see the current economic situation and future changes to the funding of social care as key drivers of this demand.
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