Uncertainty and frustration herald pension freedoms

According to one respondent to the NAPF’s research, “The government needs to give the industry time for the freedoms to embed. We need to make sure safeguards are in place”.

In order to break this deadlock, the NAPF recommended that the marketplace would best meet the needs of consumers by developing a small numebr of large schemes and providers offering high-quality, accredited products that would be easy for savers to choose and access.

Also, advisers and guidance services should be able to signpost consumers to these products, and trustees and others should be allowed “safe harbour” to signpost these to savers, without the fear of being considered to have “given advice.”