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Insurers Cut Back Pensions Jargon To Help Consumers

Law360, London (April 16, 2018, 10:56 AM BST) -- U.K. insurers have made thousands of changes to their documentation, stripping back legal jargon to give consumers a better understanding of their rights to withdraw lump sums from their pension savings, the Association of British Insurers has said.

The U.K. government legislated in 2015 to allow savers aged 55 or over to dip into their pensions and invest money elsewhere. But lawmakers have raised concern that the process is shrouded in complex terminology, confusing many savers as they try to decide how to make best use...
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