Vikki Massarano comments in Pensions Age on the availability of independent financial advice for different pension schemes
The recent changes in the pensions world has meant that pension schemes are no longer straightforward retirement income products. This is due to rapid changes including the introduction of new freedoms, auto-enrolments and the sharp decline of Defined Benefit (DB) and the intitiation of Defined Contribution (DC) schemes.
Vikki Massarano spoke to Pensions Age on the confusion surrounding the different pension plan options that are on offer and how it is necessary for people to be able to access guidance and advice on this important decision.
“There is also a real issue with the availability of good independent financial advice, both for members of DB schemes who are interested in transferring to DC so that they can access the value of their benefits and for DC members seeking the right product for their retirement, perhaps outside their workplace scheme.”
Read Vikki’s comments in Pensions Age
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