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Retirement market springs to life post-Budget, say advisers

There are signs that a more accessible and attractive retirement market is beginning to take off and is already contributing to a savings culture and encouraging people to take an active role in their plans for later life, Mark Peters has said.

Zurich’s head of wealth propositions said: “Our research shows advisers are embracing the changes, especially the opportunity to engage more with customers and encourage them to save more for their futures.”

In an online survey of 315 advisory firms across the UK, commissioned exclusively for Financial Adviser, the global insurer said that 70 per cent of adviser respondents believed the changes will encourage more people to save with 50 per saying it has simplified the system.

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Vivien Zarucki, financial planner at the Bournemouth-based Vector Financial Planning, said: “I think the majority of advisers are positive about the Budget reforms, but I am keeping my powder dry as I don’t think the proposals in the March Budget are set, so I won’t be advising my clients accordingly.”