In a webinar held in September, Professional Pensions’ expert panel looked at the dangers of pension scams and discussed the dangers posed by taking bad or no advice.
More than half of UK adults say the pandemic has made them more conscious of saving
Just 11% revealed the pandemic made them delay retirement because they could no longer afford it
Warning that lax due diligence could be compounding the problem
Fears include scam risks, lack of engagement and lack of understanding of tax implications
Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.
The Pensions Management Institute (PMI) has launched a financial education and guidance service supported by Wealth At Work.
Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports
Trustees fear their members are not equipped to deal with the risks they face when accessing their pension and worry those nearing retirement will face predatory attention from scammers, research by Wealth at Work reveals.
Jonathan Stapleton takes a look at how employers can help their members through the at-retirement journey and ensure they are getting the right support to make decisions.