Guidance guarantee could be reputational disaster - Friends Life CFO

Claims management companies could have a field day if retirees sought guidance yet used the new freedoms afforded to them following this year's Budget irresponsibly, Tookey said. From April next year, all those approaching retirement will have access to independent guidance on their options. Guidance will be required by some, the government argues, after it announced new freedoms for retirees wishing to draw an income from their savings. The Budget changes effectively removed the need for retirees to buy an annuity. But former Lloyds Banking Group executive Tookey said a blame cult...