Pension Awareness Week: Cost-of-living crisis harms pensions

The consultancy today (31 October) said that successfully engaging people with their pensions could result in unintended consequences. Among the issues raised was the possibility that individuals could be more inclined to cease their contributions or request early access to their pension savings, it said. "While these options may provide short-term financial relief, they would be likely to have a negative impact on longer-term retirement plans and may result in people finding they need to delay their retirement for several years. "It is important to get the balance right and to make s...