A new set of regulations kicked in at the start of March that will benefit you as a new retiree who is overwhelmed with choices in this new phase of your life, but you should not see it as an alternative to appropriate financial planning. Called the "default regulations", these new laws force pension funds to offer you a default annuity strategy if you have to, or don't want to, choose what happens with your retirement savings once you stop working. In these instances, the law now requires that the pension fund offers a default option that is the same for all members. It states that this default option be "reasonable", that fees be "fair" and that it is communicated well to all members. For many retirees, having a default option seems like a gift from the retirement industry. There are so many choices to make when you retire, each with its own tax implications and fees, and all of them require you to have a level of knowledge and participation. Now, it seems, you can simply ignore a...

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