Pension freedom: The seven deadly sins

Are your clients aware of the issues?

clock • 4 min read

As pension freedom approaches its first birthday Mike Morrison assesses seven potential sticking points stemming from the ground-breaking reforms

The impending one-year anniversary of pension freedom is an opportune moment to take a step back and look at some of the behaviour they have resulted in. The freedoms were undoubtedly a progressive development - giving people choice and control over how they access their retirement savings. However, with any changes there can be tempting circumstances that the unscrupulous might seek to benefit from, or where the wrong decision can lead to a poor outcome for the people involved.   1. Not nominating your beneficiaries No excuse for this one because it is easy to avoid but it is...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Why documentation is king in the world of SSAS

Why documentation is king in the world of SSAS

'SSAS documentation - it isn't just best practice or a fiduciary requirement'

Caitlin Southall
clock 04 July 2025 • 4 min read
Steve Webb: Sceptical advisers should not give up on pensions dashboard

Steve Webb: Sceptical advisers should not give up on pensions dashboard

‘A big mistake to underestimate the impact it will have’

Jenna Brown
clock 03 July 2025 • 3 min read
What role can advisers play in closing the gender pension gap?

What role can advisers play in closing the gender pension gap?

Advisers are uniquely placed to influence the gender pension gap

Olivia Perry
clock 02 July 2025 • 7 min read