The Financial Services Authority have told advisers that they must ensure that personal pension schemes offered to clients have the flexibility to move into the National Pension Savings Scheme as soon as it is up and running. Speaking at a recent Treasury Select Committee meeting, they said that advisers would have to take into account whether the NPSS was more suitable whenever suggesting another personal pension scheme.
Our view
We think most financial advisers will already be considering their clients best options now with regard to pensions and the new National Pension Scheme. If you do not have a penalty free lower charged pension scheme then you need to contact us for advice about getting one. Most clients receive advice on pension schemes with even lower charges than the proposed National Scheme. Book a callback from us.