Stephen Lowe: A stronger 'nudge' towards pension advice

There is an obvious contradiction at the heart of government policy towards financial guidance and advice. Logically, consumer support should be focused on areas where knowledge and confidence is relatively low and the potential for poor outcomes is high. Yet that is not what happens. Under the popular ‘freedom and choice' policy, pension savers have complete freedom to access money in defined contribution schemes without taking advice or the free guidance on offer. That contrasts with mortgage borrowers who are required to take regulated financial advice - the highest level of support a...