Almost two-fifths of IFAs believe most consumers will still seek advice on pension investment following the introduction of a National Pension Savings Scheme (NPSS), claims research from the Association of Independent Financial Advisers (AIFA).
In its March Census, AIFA asked members five questions on the proposed design of a NPSS. Despite advice not being costed into the proposals, either for a NPSS or one of its industry alternatives, IFAs still believe people will need advice. Of the 323 respondents, 37% believe people will want advice on where to invest their pensions, while 34% think consumers will want help deciding whether to pay in more than the required 4% of earnings set out by the proposals. As a result, from a business point of view, AIFA reveals only 24% thought the proposed NPSS would have a significant or modera...
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