Retirement

Revealed: What advisers told the Treasury about pensions 'guidance'

The guidance guarantee, if delivered as planned, will do little more than deter people from "doing stupid things" with their pension pots - it will not help them plan for their retirement, according to LEBC.

The Pensions Advisory Service (TPAS) and Money Advice Service (MAS) have hit back at critics of their involvement in delivering the government's pensions 'guidance guarantee', saying they are confident they can scale up to meet demand.

In this week's Retirement Planner news round-up we highlight five key stories you might have missed over the past seven days.

Advisers have expressed their relief that the government's promised free at-retirement guidance will not be delivered by providers, but reservations remain over the likely involvement of the Money Advice Service (MAS).

Financial advisers could pay a larger share of the costs for delivering the government's ‘guidance guarantee' than pension providers.

Almost a third of UK adults do not know what changes to pensions were announced in the Budget or how they are affected, according to research.

AXA Wealth International head of proposition Simon Willoughby on what the retirement market can learn from the Tour de France...

Nearly two-thirds of advisers have seen an increase in business enquiries since sweeping changes to pensions were announced in the Budget, according to a survey by Skandia.

Provider LV= has called for the introduction of new retirement solutions which could see providers and advisers split the risks inherent in providing income drawdown to the masses.