Time is running out for pensioners to take up a rare government offer that doubles the income they can receive on some of their savings.
Yet take-up of this golden opportunity to turbocharge retirement income is reported to be “extremely low”.
The Government has offered up to 12 million senior savers the chance to convert a lump sum into a guaranteed income for life on terms that are up to 133pc better than those available on the open market – yet the public has largely ignored the deal.
Steve Webb, the former pensions minister who launched the scheme, said: “From what I hear, take‑up has been low. I think part of the problem is that people don’t really understand it.”
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http://www.telegraph.co.uk/pensions-ret ... n=DM362434
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