Let’s Talk Pensions
FT Adviser reports that "Just one in three plan to talk to IFA about retirement options". With a changing state retirement age and the introduction of pension freedoms the options available to individuals regarding their pension have become more complex. We are increasingly seeing people who want to understand when they can retire and what the financial implications are at different ages. Such conversations provide clarity and our clients often say afterwards they feel relief at a better understanding of their options.
We were therefore saddened to hear how few people are talking to advisers and missing out on the opportunity to truly understand their financial position.
The article states "Retirement Advantage found people aged 50 plus prefer using the government’s free at retirement service Pension Wise, or the internet, to advice, despite a marked improvement in trust in the industry.
The firm’s latest poll of 1,003 UK adults aged 50 plus found fewer than one in three (31 per cent) people planned to ever consult a professional financial adviser for information on their retirement options, down from two in five (42 per cent) last year." Read the full article here.