Karen Barrett, chief executive of unbiased.co.uk, comments on pension minister Steve Webb’s latest proposed pensions reforms extending pensions freedoms to those who have already retired

05 Jan 2015

“Steve Webb’s latest proposals for pension reform would certainly be fairer on existing pensioners. However it doesn’t solve the problem highlighted in our recent research, which found that one in four people are already anxious about their retirement plans. One inherent risk of giving people a ‘choice’ to do something is that some individuals may interpret this as a recommendation of what they should be doing without understanding how this meets their retirement goals.

“This is too big a decision for the majority of people to take alone. As a next step, I would like to see the guidance guarantee extended to those who have already retired, and this in turn needs to point people towards sources of professional, individually tailored advice.”

Financial advisers offering a FREE pension review to help people make the right retirement options

“Unbiased.co.uk is the largest database of independent whole-of-market financial advisers, including 15,400 IFAs. Many advisers are currently offering consumers a FREE pension review by visiting www.unbiased.co.uk/campaigns/free-pension-check. Unbiased advisers are uniquely positioned to help consumers make confident decisions regarding their retirement income options.  Of the 25,000 professional advisers we list over 12,000 specialise in retirement advice.  In addition to this, over 3,000 of our advisers specifically state they advise clients with pension pots of £50,000 or less.  Our Find an Adviser checklist can help people find the adviser who is right for their unique circumstances.”


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