Providers pushing pensions freedom advice demands 'too far'

Providers pushing pensions freedom advice demands 'too far'

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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...

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