Pension freedoms leave people with little choice

November 20, 2017

Just over two years ago the government announced the new pension freedoms which meant people were not forced into purchasing an annuity at retirement. Our own experience had shown that clients often felt an annuity failed to offer value for money. However, I am also of the opinion that many people under estimate how much money is required to provide for a healthy retirement. The pension industry is very complex and people need advice from a qualified, authorised Financial Adviser. This should give the consumer peace of mind, yet, we have experienced that many consumers cannot appreciate the value in the advice on offer. They see it as expensive and not offering value for money. This is despite many articles to the contrary.


Since the pension freedoms we have seen a reduction in the number of annuity providers and some have withdrawn completely. This again reduces the level of choice. 


We have seen clients enter into drawdown and in some cases "raid the cookie jar" to pay for non essential expenditure. Our worry is customers will levy the blame at their Financial Adviser for permitting this excessive withdraw.


If you would like to discuss your pension options please give us a call and we will happy to talk through your options. Tel: 01473 487611


The full article from the Financial Times can be seen here:


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4 Rutherford Centre

10 Dunlop Road



01473 487611

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