Providers pushing pensions freedom advice demands 'too far'

Providers pushing pensions freedom advice demands 'too far'

clock

Claire Trott can foresee a future mis-selling scenario linked to pensions freedom. Here, she explains why providers are pushing advice requirements too far...

I feel that most people would benefit from taking advice at retirement, but I don't think you can force people to pay for advice if they don't want to. It should always be remembered that it is their money after all and they do have a right to access it in a way that best suits them within the schemes capabilities. Refusing access or restricting their choice of retirement benefits without advice could be seen as providers creating a new default option for the client. Recently I saw that one provider had said that without advice the client could take their whole fund as cash, buy an...

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

Bridging the generational pension confidence gap

Bridging the generational pension confidence gap

'The knowledge gap is universal'

Robert Cochran
clock 27 November 2025 • 5 min read
Warnings of 'damaging' pre-Budget pension speculation impact

Warnings of 'damaging' pre-Budget pension speculation impact

Commentators say speculation on pension issues has negatively impacted saver confidence

Jasmine Urquhart
clock 27 November 2025 • 3 min read
No change to tax-free lump sum is 'welcome' move

No change to tax-free lump sum is 'welcome' move

The chancellor chose to leave the tax-free lump sum unchanged in the Autumn Budget

Holly Roach
clock 27 November 2025 • 3 min read