Pension freedoms, taxation and policy U-turns - it has been a rollercoaster ride for many advisers the past 12 months.
Earlier today (Wednesday 27 April), FTAdviser brought together a panel of experts to answer your questions about the twin hurdles of pension taxation and freedom.
The panel were: Steve Webb, director of policy for Royal London; Ben Gaukrodger, manager, savings policy for the Association of British Insurers; and Billy Burrows, director of Retirement Intelligence.
The panel discussed how navigating the vagaries of pension taxation, Budget reductions to the lifetime allowance, dealing with a wave of insistent clients since the pensions freedoms and choice regime came in has proved challenging for many advisers.
Clients do not feel knowledgeable about their pension options and there is still a discernible ‘advice gap’ in the UK.
Although the Financial Advice Market Review outcomes may go some way to reducing this gap over the next few years, this does not do much now to help more people get advice about what to do with their pension.
Add to this the uncertainty generated by the government as to whether it will create a pension Isa in the future and change the tax treatment of pensions, it is clear more needs to be done to create a joined-up approach to pension provision in the UK.
Watch the full video here, which qualifies for 30 minutes’ worth of structured CPD.
Alternatively, copy and paste this link into your browser window: http://onair.ftadviser.com/
simoney.kyriakou@ft.com
