The number of face-to-face and over-the-phone guidance sessions provided by the government-backed service Pension Wise has reached almost 18,000 since its launch in April.
But experts said this was low given government projections that around 320,000 people will retire on defined contribution (DC) pensions every year. This comes after figures from the Association of British Insurers (ABI) showed schemes made a quarter of a million payments worth £1.8bn in just the first two months of ‘freedom and choice'. The data from the Treasury also revealed more than 925,000 people had used the service's website to help understand their at-retirement choices, with many visitors returning regularly. Total engagement with Pension Wise, provided by The Pensions Adv...
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