Retirement specialist Portal Financial has called for pension changes not to become a political ‘football’ ahead of the general election, urging MPs to make no further changes.
The firm pointed out that since the March Budget there have been significant changes to pensions, leaving large numbers of people confused about the options available to them.
It urged the government to clarify the choices people will have, particularly emphasising the guidance guarantee and the importance of regulated advice, while not introducing further changes for political gain ahead of the May general election.
Jamie Smith-Thompson, managing director at Portal Financial, said: “2014 has been one of the most significant years for pensions and we welcome the flexibilities that have been provided.
“However, since the reforms were announced we have received enquiries from a lot of people who are unsure what the changes mean for them.
He added: “We are imploring the politicians not to make further pension reform part of their election manifesto as this will create further and unnecessary confusion with the majority of the general public.”
ruth.gillbe@ft.com
