The decline in cognition (understanding) in old age is well known, but as pension risks for workers have been offloaded by employers (via defined contribution schemes), many pensioners find themselves needing to make complex financial decisions when their mental acuity is declining.
The IFS' report explores this issue and argues for better information & guidance for pensioners; but really the problem is employers shirking responsibility!
https://ifs.org.uk/publications/cognitive-decline-and-financial-wealth-older-ages





