Advice at retirement 'should be compulsory', say over 55s

The survey of over 55s by annuity provider MGM Advantage also found a third (35%) said they were not comfortable managing their pension in retirement, pointing to the need for on-going advice. Just 11% said they were ‘very comfortable' managing their pension in retirement. Backing for compulsory financial advice increased to 62% when pensions freedom was involved. MGM said 62% of people who planned to utilise pensions freedom to access their pots before retiring thought advice should be mandatory. MGM Advantage pensions technical director Andrew Tully said: "The research paints a...