Retirees using drawdown are three times more likely to use a financial adviser than Pension Wise when accessing their funds, however, many are still not taking any kind of advice or guidance, according to AJ Bell research.
The research found 34% of people went to see a financial adviser when entering drawdown compared to 12% who chose Pension Wise. However, the data also showed 40% of respondents did not seek any help whatsoever. AJ Bell said the research reinforces how important it is for the Financial Guidance and Claims Bill, which is due for its third reading in the House of Lords on 21 November, to find "effective measures" that increase the take up of the government's new single guidance body and get more people engaging with their pension decisions. AJ Bell said ti wants further debate and scrut...
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