Industry criticises govt's 'overly complex' pension age proposals

Overall, he expects no change in his retirement planning from the age hike.

He said: “It’ll definitely affect advice given to clients as many may still think it’s age 55 when they could access their pensions, so may have plans in the future relying on accessing their pensions.

“But in terms of clients' retirement planning, it probably wouldn’t have much impact as 55 or 57 is still relatively young for most."

The government’s consultation on the proposed pension age increase closed yesterday (April 22).

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