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US and Aus reveal 'detrimental outcomes' of UK pension freedoms

US and Aus reveal 'detrimental outcomes' of UK pension freedoms

An examination of the impact pension freedoms have had on other countries exposes the potential downsides and risks facing UK retirees and the British state, a think tank has warned. A report from the State Market Foundation argued that the UK Government should learn from countries that have similar pension freedoms in place to assess how UK retirees are likely to respond to April's reforms. It used Australia and the US as comparisons because both countries are closely aligned to the UK pension system, offering retirees a significant amount of choice on how to access their pensions. The report also compared the UK regime to Canada, Switzerland and Denmark. Please link to International Adviser to read the full article by Katherine Denham.

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