Ben Franklin, Assistant Director of Research and Policy, International Longevity Centre – UK said:

‘The FCA’s Retirement Outcomes Review contains a set of very sensible recommendations for addressing the challenges posed by pensions freedoms, namely lack of engagement, taking the path of least resistance and a desire to take savings as cash.

In particular we think investment pathways to prevent particularly sub-optimal drawdown outcomes is a useful development. There is of course a more fundamental question about the long-term impact on the consumer of moving away from products that insure against longevity risk (annuities) and towards products that continue to expose consumers to investment risks in retirement (drawdown).

In this regard the regulator can only go so far. Public policy, industry and consumer bodies will need to work together to ensure this shift does not cause excessive consumer harm'.



Dave Eaton at or 020 7340 0440.


The International Longevity Centre – UK (ILC-UK) is a futures organisation focussed on some of the biggest challenges facing Government and society in the context of demographic change.

Much of our work is directed at the highest levels of Government and the civil service, both in London and Brussels. We have a reputation as a respected think tank which works, often with key partners, to inform important decision-making processes.

Our policy remit is broad, and covers everything from pensions and financial planning, to health and social care, housing design, and age discrimination. We work primarily with central government, but also actively build relationships with local government, the private sector and relevant professional and academic associations.


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