As retirement hits the headlines in July with the Government making announcements on annuitisation and the default retirement age – latest figures from unbiased.co.uk, the professional advice website, reveal 38% of consumers sought retirement planning advice when using unbiased.co.uk’s ‘find an IFA’ service. Retirement planning continues to remain the number one advice driver when searching for an Independent Financial Adviser (IFA), with a 2% rise in searches month on month.
Kevin Stelfox, Sales Director at independent financial adviser Retirement Solutions commented: “Consumers should always seek independent financial advice for any financial product they intend to purchase, the difference between the best and worst products can be significant. Pension advice is one particular area of retirement planning that cries out for independent advice as the pension fund can be eaten away with excessive charges”
Many UK companies are closing their final salary pension schemes and leaving their employees to save in money purchase schemes that depend upon fund performance for the final pension. This means it is so important to take independent pension advice.
