Rewriting the rules on retirement planning

Rewriting the rules on retirement planning

clock

Pensions are now just one part of the retirement income puzzle. And it's up to advisers to re-educate their HNW clients, writes Neil MacGillivray

The changes due to come into effect from 6 April under the new freedom and choice in pensions rules, allowing members to fully access their pension funds, truly turn income planning in retirement on its head. The idea that high net worth individuals should consider taking the bulk of their income from their pensions may no longer apply and advisers now have the responsibility of ­re-educating their clients. The key issue here is the true cost of stripping income from a pension and what alternative options are available. The need for ongoing advice in this area will be much sought afte...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Retirement income advice: FCA finds 'mixed picture' among case files

Retirement income advice: FCA finds 'mixed picture' among case files

Regulator published outcome of thematic review into retirement income advice

Jenna Brown
clock 20 March 2024 • 5 min read
FCA tells IFAs to review retirement income advice processes

FCA tells IFAs to review retirement income advice processes

Comes after regulator’s thematic review of retirement income advice

Jenna Brown
clock 20 March 2024 • 2 min read
Addressing the 'regulatory timebomb' of income security

Addressing the 'regulatory timebomb' of income security

'Advisers remain concerned about the levels of withdrawals'

Kevin Carr and Matt Morris
clock 19 February 2024 • 4 min read