Half of advisers (51%) see a lack of consumer awareness and understanding of pension freedoms as their biggest concern about the regime three years on from its introduction, research from Prudential has found.
A similar proportion (49%) of advisers cited savers running out of money as their biggest concern, according to the research conducted among 100 advisers in April. Unexpected tax bills and the risk of mis-selling were seen as major concerns for fewer than half (45%) of advisers while two-fifths (41%) warned about the risk of fraud. Four-fifths (81%), however, said they backed the reforms, while 30% believed the new rules had been very successful. Ideas to increase the take-up of guidance and advice included offering increased subsidies for advice in the workplace, which was suppo...
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