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The death of annuities has been greatly exaggerated

Consumers owning defined contribution pensions cashing in their pension pots to buy themselves a Lamborghini was probably the most striking scenario envisioned after the new pension freedoms came into force in 2015. But contrary to this vision, consumers have shown themselves to be far more responsible and rationale with their money. After an initial burst of taking cash from pension pots, the tendency to cash-in...

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