Pension freedom users failed by UK government body
Hope that taking guidance would become a ‘new norm’ has not materialised
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Hope that taking guidance would become a ‘new norm’ has not materialised
Government flagged the move back in 2014
But drop is expected to be ‘a short-term blip’
It will look at scams, the range of options for savers and later life planning
As 51% of Brits aged 55 and over admit they know little about the pension freedoms rules
DIY savers ‘more inclined to have a knee jerk reaction’ to volatile markets
‘Whole system is complex and there is a clear need to review how it works’
‘People have been attracted by the ability to use their pensions like cash machines’
As more than one million people have been furloughed
During the first bear market since they were introduced
Current economic climate has ‘put the brakes on any plans’ to dip into retirement pots
FCA chief says that large investigation may have found mis-selling in the market