The government could face a fresh mis-selling scandal if it fails to prepare for its guidance service, Chris Williams, CEO of Wealth Horizon has said following the Autumn Statement.
"From April 2015, savers will be able to access their defined contribution pension as they wish at the point of retirement, subject to their marginal rate of income tax, instead of the current 55% charge for full withdrawal. The government has said these changes will be supported by free, impartial guidance to help people make informed decisions about how they use their defined contribution pension savings. However, we remain in the dark about this guidance service, with the government giving no steer as to how - or exactly what - it plans to deliver. Are advisers expected to parti...
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