A report from senior MPs warning pensions freedom could be the next ‘mis-selling scandal' in financial services is a misplaced attack on providers and advisers, Martin Tilley has said.
Dentons Pensions Management director of technical services said the comments made in the report, from the work and pensions select committee, were a "bit rich". The report warned consumers did not currently have enough support to make well-informed decisions when exercising pensions freedom. It said: "The difficulties consumers have in understanding financial products can result in a mismatch between buyers and sellers. "The financial services industry has a recent record of taking advantage of this asymmetry in a string of mis-selling scandals. "Improvements in guidance and adv...
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