Time for Government to force pension firms to send plain English statements to their customers so they can understand pensions
Government should force pension firms to send simpler, standardised annual statements. It’s time for pension providers to help customers understand their pensions, not leave them baffled by jargon. Pensions Dashboard will not work without standardisation – and accurate data. Annual pension statements could be sent for customer’s birthday wishing ‘many happy returns’! New statements should be promoted and explained by national public information campaign. Showing forecast pension at two ages e.g 60 and 67 could offer positive behavioural…