IFAs blast pensions lifestyling strategies as 'lifestealing'

Advisers asked if risk around lifestyling need rethinking

Hope William-Smith
clock • 3 min read

IFAs have blasted lifestyling strategies used by many work-based pensions, labelling them ‘lifestealing’ and ‘a lazy, horrific idea’ from a bygone era, research has found.

Public relations platform Newspage surveyed a range of IFAs asking if a rethink was needed around asset classes and lifestyling - an investment strategy where pension savings are automatically moved into another fund that aligns them more closely to a client's plans for using these as they approach retirement. The strategy "made sense in a bygone era" but does not fit with modern retirement planning, Trusted Financial Advice Chartered financial planner Darren Bilkey said. "They are constructed according to a pre-defined set of assumptions, namely ‘you will work, retire at age X, and p...

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