Reporting live on the PLSA webinar on the evolving #pension freedom market. #DC

The #PLSA webinar is kicking off with a poll about how many participant schemes offer decumulation products for members (such as drawdown or annuities).

Only 30% of participant schemes responded yes.

55% said no.

Emma Douglas, of LGIM and the PLSA's policy board, says members remaining on 'factory setting' default fund arrangements in the decumulation phase, face complex choices at retirement.

Douglas says the average pension DC pot size at LGIM (one of the UK's largest asset managers) is £18,000.

Most savers are cashing in these pots at retirement.

Douglas schemes and trustees are "really woried" about doing more for #DC savers in the retirement phase, including stepping into the "advice space, and litigation, the cost of administering options and solutions".

Govt likely to regulate in the decumulation space, says Lizze Holliday of the #PLSA.

The decumulation space is where #pension schemes offer members different ways to take their retirement income, such as drawdown or annuities.