Retirees look to 'trusted advisers' for guidance guarantee delivery

Jenna Towler
clock

The majority of people approaching retirement want to get their ‘guaranteed guidance' from financial advisers or established consumer organisations not pension providers, research shows.

A poll from annuity provider MGM Advantage revealed just under a quarter of over 55s favoured getting their guidance from financial advisers. A similar amount would look to "trusted" organisations such as Citizens Advice or The Pensions Advisory Service (TPAS). An MGM Advantage poll found just 12% of people would be happy to get the guidance from their existing pension provider. Just 5% of people thought impartiality was not an important part of the guidance guarantee, while 12% did not know. Financial advisers were favoured by 23% of those polled. Another 21% thought the governmen...

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

How retirement planning has transformed over the past 50 years

How retirement planning has transformed over the past 50 years

PPI report looks at the move from predictable pensions to personal responsibility

Jonathan Stapleton
clock 21 November 2024 • 3 min read
Act now: Planning for retirement is a concern for today

Act now: Planning for retirement is a concern for today

'Don't wait until tomorrow to think about retirement'

Andrew Tully
clock 20 November 2024 • 4 min read
Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Report published as Reeves delivered inaugural Mansion House speech

Jonathan Stapleton
clock 15 November 2024 • 4 min read