As the industry marks ten years since the introduction of pension freedoms, it has praised the “success” of the move so far but has noted ongoing challenges for adequacy.
Marking the decade anniversary of when members could first access a portion of their pension savings tax-free, Isio director Matt Calveley said the reforms have provided "millions with greater flexibility and control over their savings". Earlier or phased retirement and increased time for funds invested in markets, as well as the ability to "manage unexpected financial needs in a way that wouldn't have been possible under the previous system" have been the main benefits, while the ten years ahead is likely to see challenges with the defined contribution (DC) sector. Calveley said with...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
