BNY Mellon finds pre-retirees will find it ‘increasingly difficult’ to plan without advice
HUB analysis of FCA data shows just one in ten considered switching to a flexible DC plan
HUB says members should not think they have ‘missed the boat’ on reviewing DB options
Tailored personal financial guidance in addition to group advice will be provided
Employers should do more to engage members with pensions and help them harness the full potential of their options to reach a good retirement outcome, according to research.
Follows focus group and consumer research
The government is to change the definition of financial advice for regulated firms - replacing, with effect from 3 January 2018, the two existing interpretations with a single one based on the Markets in Financial Instruments Directive (MiFID) definition...
Policymakers must do more to boost basic financial literacy so people can make good decisions and adequately plan for their retirement.
The government has rejected the accusation it gave advice to former workers at the UK Atomic Energy Agency when it was privatised two decades ago.
The government is to create a single guidance body for pensions, money and debt matters, which will replace The Pensions Advisory Service (TPAS), including Pension Wise, and the Money Advice Service (MAS), it has said.