Concern over the rise in scams is among the reasons prompting a new Work and Pensions Select Committee inquiry into whether the pension freedom reforms have achieved their objectives and if policy changes are needed.
The committee, which is chaired by Birkenhead MP Frank Field, said this would follow up an inquiry it conducted shortly after the reforms were introduced in 2015. It added the inquiry would have a "wide scope", covering what people currently do with retirement savings and how they chose their paths, the information and guidance available and how the pension product market is working. Areas suggested by the committee on which people could offer responses included the extent to which consumers were taking proportionate advice, whether guidance services such as Pension Wise were working ...
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