Stronger nudge to pensions guidance ‘vital’

by Rebecca O'Connor from interactive investor |

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Getting access to clear, free guidance can mean the difference between poverty and comfort in retirement. 

In response to the statement of policy intent published this morning by the Department for Work & Pensions, which will seek to nudge people towards the Pension Wise service.

Becky O’Connor, Head of Pensions & Savings at interactive investor, said:

“The number of options for what to do with a retirement pot can be baffling. It’s really hard on your own to work out how to make that money last and the consequences of getting it wrong can be devastating.

“There are so many risks to people’s retirement pots now, whether through scams, stock market falls or unexpected life events such as illness or divorce. Getting access to clear, free guidance can mean the difference between poverty and comfort in retirement. Particularly as not everyone who would benefit from personalised financial advice can afford it.”

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