The lack of initiatives to increase pension engagement or provide financial advice places over 50’s in a dangerous position as the government ploughs on with its initiative to encourage them back to the workplace, My Pension Expert says.
The at-retirement specialist firm's policy director Lily Megson said the recent pressure on over 50s following the 2023 Spring Budget "fails to consider people's motivation for retirement". She added the government has to do a better job to empower older workers when it comes to advice and pensions. "As individuals approach retirement age, they may face difficult decisions regarding their financial future," Megon said. "Unfortunately, the lack of initiatives to enhance pension engagement or provide access to independent financial advice is a worrying situation. "Without such tools,...
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