You are here: Home - Retirement - Retirement planning - How to -

Defaqto guide helps navigate new pensions landscape

0
Written by:
24/03/2015
Many retirees are either unaware of or overwhelmed by the recent changes in pension legislation, says Defaqto.

Defaqto has updated its pension guide – Looking forward to retirement: Guide for retirees – explaining the options for those saving for, approaching, and at retirement in light of the new pension rules. The guide includes a number of model consumer profiles, illustrating how a person in certain circumstances and with specific needs could achieve their retirement objectives.

The guide – sponsored by Partnership – looks at the various retirement income options available, highlighting the key issues and potential consequences of different options.

The guide addresses investment risk, longevity, the impact of inflation, and the impact of health on retirement income. The group says that the information contained in the guide should not be considered advice but seeks to equip people with more knowledge to use in a personal guidance and/or advice consultation.

Richard Hulbert, Insight Analyst (Wealth), Defaqto, said: “The new pensions and retirement freedoms introduced by the government provides greater choice for all but also introduces greater complexity into the decision process. It is a complete game changer.

“This unique, independent and impartial guide to the new retirement options helps consumers really understand what the changes in legislation mean to them. The profiles of individuals going through common retirement scenarios allow consumers to draw a picture of what their retirement income options may look like.”

Andrew Megson, managing director of Retirement, Partnership, said: “While flexibility regarding retirement income options is a positive development, it will mean that consumers need to make more complex choices than ever before. However, our research suggests that they are unsure of where to turn for information and are confused by the new pension changes.

“Balancing consumers’ new freedoms with the desire to ensure that they will never need to worry about whether they can heat and eat is likely to mean that people need blended solutions and these profiles highlight how they can work.”
The guide (and model consumer profiles) can be downloaded, free of charge, on the Defaqto website here: http://defaqto.com/siteassets/financial-advisers/resources/publications/free-guides/looking-forward-to-retirement/consumer-guide.pdf

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Insurance Experts: Are you fully insured? Click here to get a quote.

For a free quote or to speak with an insurance expert call 0800 1218744

Flight delayed or cancelled? How you can claim £520 compensation

If your flight’s already been delayed or cancelled, or you’re jetting away this summer and want to be armed wi...

Could this be the secret to early retirement?

Taking an active approach to where your pension is invested means money is deposited into funds that can drama...

Bank of England: base rate could stay under 2% for 30 years

The Bank of England (BoE) has admitted that current forecasts show its base rate could remain under 2% for the...

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
shutterstock_136786010
Should you sell your annuity?

An extensively pre-promoted feature of the 2015 Budget was the extension of last year’s pension freedoms to existing retirees –...

Close