Low income pension savers 'receive little advice'

Peter Quinton of Living Time says pension savers with low incomes often have little awareness of the benefits of financial planning and “apathy” towards shopping around for the best investments. He says: “Only 35% of people are shopping around. It’s only wealthier people who have good financial advisers. It’s those who are lower down, as far as funds are concerned, who don’t. “The biggest fault is they don’t realise the commercial difference it can make to them.” He also says the proposals in June’s Retail Distribution Review (RDR) for a simplified regime may worsen the situation for ...