To support this governments radical pension reforms that will hand people greater freedom over how they spend their pension pot from April next year, everyone has been promised the option of receiving free face-to-face retirement guidance and the Government has set aside £20m to get the guidance service up and running, with the FCA being responsible for designing the framework. Any ongoing costs will be paid through a levy on providers and on trust-based pension schemes.
The nationwide survey of more than 1,000 over 40s with private pensions, conducted by Consumer Intelligence, suggests 69 per cent want their options explained in a face-to-face session.
A further 24 per cent said they would be willing to use online services in conjunction with human help, while 4 per cent wanted guidance over the phone. Just 3 per cent said they would be willing to rely solely on online help. Consumer Intelligence spokesman David Black says: “Decisions about retirement income are ones that people literally have to live with so it is clear that people want to take them seriously. “Face to face guidance is by far the preferred option for the free advice proposed by the government with most people willing to travel to ensure they get as much help exploring their options as possible.” If you want to get ahead of the game Enable’s IFA’s in Bishops Stortford are happy to meet face to face.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
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