The real concern with pension freedom is not people blowing their retirement savings on big-ticket luxury goods but transferring their pots into low-interest bank accounts, research from Citizens Advice has suggested.
A third (32%) of those with pensions of more than £100,000 are transferring their pensions into bank accounts, according to a report released today by Citizens Advice. In comparison, one in five (22%)...
'Damage is done at the moment the pension is transferred...'
'Visibly trawling for prospective clients'
‘Effectively the norm’
20 years experience in multi-asset