Guaranteed pension income ‘resurrected’ for 17m private sector workers
Ministers propose new guided retirement scheme to help give savers protection for life Business live – latest updates Millions of private sector workers will be offered a guaranteed pension income for life under new rules designed to help them get the most out of their retirement savings.
Workers have instead saved into a scheme and arrived at retirement with a pot of money they have to decide what to do with.
Over the past 30 years, the majority of final salary pension schemes offering a set payout for life have closed.
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