Member Article

What does pension freedom mean to you?

For many, releasing funds from a pension may mean the holiday of a lifetime, a new car or home improvements. The cynical amongst us might think that the potential boom in spending just before the General Election in May is excellent PR for the Chancellor, not to mention the additional taxation receipts!

A recent study of those likely to be affected by pension reform said that they wanted a secure income for retirement but felt that there was no clear route for them to achieve this.

The study said that savers needed 3 things:

-Awareness and understanding of the guidance they can expect (this is not the same as financial advice!); -Outline pathways to help them make the most of their money throughout retirement; -Products that are easy to undestand, reliable and good value.

It would seem that there is a clear need for advice which enables individuals to enjoy those retirement funds they have built up over their working lives but at the same time making sure that they don’t run out. Common sense? We think so.

This was posted in Bdaily's Members' News section by Robson Laidler Financial Planning .