Over half of DC pensions accessed without advice

Research found just one in three pensions accessed were done so after receiving advice

Holly Roach
clock • 2 min read
Just Group communications director Stephen Lowe
Image:

Just Group communications director Stephen Lowe

More than half (53%) of the 705,666 defined contribution pension pots accessed for the first time in 2021/22 were done so without the member receiving regulated advice, Just Group finds.

The firm's analysis of Financial Conduct Authority figures revealed just 33% of pensions were accessed after professional advice, and just 12% after Pension Wise guidance. Just revealed 53% of D...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Ten years of the DC Future Book

Ten years of the DC Future Book

How to build on the foundations of a decade of auto-enrolment

Professional Pensions
clock 28 November 2024 • 13 min read
Aviva Investors launches private debt LTAF

Aviva Investors launches private debt LTAF

Firm’s third LTAF aims to provide DC savers with range of investments from across private debt spectrum

Martin Richmond
clock 27 November 2024 • 4 min read
No industry consensus on whether DC consolidation a positive step forward

No industry consensus on whether DC consolidation a positive step forward

PP survey finds industry split on DC consolidation proposal unveiled in Mansion House speech

Martin Richmond
clock 26 November 2024 • 2 min read
Trustpilot