Personal Pension Accounts Disaster?
Published / Last Updated on 09/07/2008
Personal Pension Accounts Disaster?
Personal accounts will become the next mis-selling scandal unless generic financial advice is improved, an independent pension expert says. Ros Altmann said personal accounts and the generic financial advice system that will back it up were a disaster in the making.
Our view
Disaster is perhaps too strong a word. The issue is that people who save small amounts in pensions will do little more than reduce means-tested benefits and therefore reduce the benefit of saving. In addition, questions have to be raised as to how advice will be offered and whether risks will be explained.
Useful links:
Learn more about Personal Accounts and related topics in the Pensions Adviser Channel
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
