Life, pensions and investment company Royal London is seeking to provide its non-advised retirees with access to independent advice "at low cost" in the wake of the Budget pension freedoms.
The group said it is "working on future ways to give our retiring non-advised customers access to independent and impartial advisory firms at low cost". Though it welcomed the introduction of independent 'guidance' for retirees from April next year - when the over-55s will be given greater freedom to draw their retirement savings - it said that initiative alone would not be enough to protect consumers and that regulated advice had a role to play. "The guidance guarantee, although welcome, will not be enough to ensure that the public gets the best outcomes from the government's reforms...
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