Crisis looms

Pension information is at its worst ever. The uncertainty surrounding decisions made based on such information could be disastrous.

Pensioners need clear, plain English choices regarding any decision they make on their pension. The consequences of getting such a decision wrong could lead to poverty in old age. That's how serious the situation is.

Do you know what an 'uncrystallised fund pension lump sum' is? Do you understand the terms 'drawdown', 'phased retirement' or 'trivial commutation'? These are matters that should be a whole lot clearer but aren't. Why?

In 2015 we will be looking closely at the worst of pension jargon. We will name and shame the worst offenders as part of our end-of-year awards. We will also keep an eye out for those beating a clear path through thickets of incomprehensible gobbledygook.

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