Investment industry publishes recommendations to strengthen retirement outcomes for UK savers

The Investment Association (IA) - the trade body for the UK investment management industry - today launched its Investing for a Better Retirement paper, outlining a series of principles and four key recommendations to improve access to high-quality, sustainable retirement income solutions for UK savers.

As the UK’s pension system continues to evolve, the IA has called for greater saver engagement with their retirement choices and a stronger focus on retirement outcomes. To support positive outcomes for pensioners, the IA has set out principles for effective retirement income delivery, under which solutions should be flexible, inflation protected, tax efficient, future-proof, and value-for-money.

Imran Razvi, Senior Policy Adviser at the Investment Association, said: “Ten years after their introduction, the pension freedoms continue to offer DC pension savers the ability to tailor the use of their pension wealth to their retirement goals. However, the same freedom means these individuals face a complex series of choices over how to generate income.

“As more people retire increasingly reliant on DC wealth, the need for informed, long-term planning and support has never been greater.  Ensuring people – whether advised or non-advised – have access to appropriate support and flexible, value-for-money retirement income solutions, is paramount.”

He continued: "Our recommendations underscore that retirement isn’t a one-size-fits-all journey - and today’s savers need the tools, support, and investment options to match that reality. The financial services industry must work collectively to build stronger engagement with retirement planning, deliver more consistent support, and implement smarter regulation to empower the industry to deliver better outcomes for UK savers.”