Retirement: Government expects people to make “wrong choices”, 7 ways to avoid being one of them

Government expects some people to make the “wrong choices”, 7 ways to avoid being one of them?2014 has been a momentous year for pensions, with possibly the biggest changes in a generation announced. However, according to the man overseeing the new rules, Pensions Minister Steve Webb, some pension savers will “make the wrong choices” and end up less well off in retirement. Speaking at a recent conference Mr Webb said: “"This coming April some people will get it wrong. They will make the wrong choices. They will get a worse outcome than ...

Retirement: Pensions Freedom – 6 mistakes to avoid

Pensions Freedom: 6 mistakes to avoidThe introduction of ‘Pensions Freedom’ means 2014 goes down as the year pensions were changed forever. The changes will certainly give you more flexibility when it comes to accessing your pension pot. But despite how the changes are being portrayed by some people, there are serious dangers and pitfalls you need to be aware of. Here are our top six Pensions Freedoms mistakes to avoid: Mistake #1: Guidance isn’t the same as Advice The Government has announced that from April 2015 everyone approaching retirement will be given ‘Guidance’ on ...

Guest Blog: Why the ‘Guidance Guarantee’ won’t replace advice

MGM AdvantageIn his first Guest Blog for Investment Sense, Andrew Tully, Pensions Technical Director at MGM Advantage, looks at the latest Government initiative to help people make better choices when they retire. How will it work? Will you be entitled to it? How will it benefit you? Read on as Andrew explains all you need to know. The Chancellor’s 2014 Budget delighted many by giving people the ultimate flexibility in when and how to take their pension savings after April 2015. Many of the headlines have concentrated on the fantastic freedom ...

‘In the Spotlight’: The latest on pension freedoms from Andy Bell

Spotlight AJ Bell As a follow up to our interview with AJ Bell founder Andy Bell earlier this month, we’ve managed to secure a little more of Andy’s time to discuss his views on the Government’s response to the consultation on the post- April 2015 pension freedoms. Phillip Bray: Can you give us a snapshot of your views on Monday’s announcements? Andy Bell: In terms of Monday’s news I’d sum it up as more positive than negative. The majority of the announcements were sensible in the context of the wider reforms. Looking at the broader ...