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Fantastic new flexibility – but you still need to make the right choice!
20th March 2014
Jonathan Watts-Lay, Director, WEALTH at work said, “Greater flexibility to decide how to take income from pension is fantastic news for savers, but without the right financial education and advice it could leave them incredibly vulnerable to making poor decisions. We’ve educated tens of thousands of employees via workplace seminars over the years and it’s clear that employees have a worrying lack of understanding about what their options are, and what’s right for them when it comes to retirement. Given this lack of knowledge, the right, informed and impartial advice is crucial if these reforms are to be effective.”
He continues, “Giving individuals power over the biggest financial decision of their lives is great, but with it comes a huge burden of responsibility. Financial education, and the right advice, has never been more important. It could be the difference between a comfortable retirement – and a potentially very difficult one.”
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