Have Pension Freedoms Been a Success?

Only 36% of pension holders said they’d received any information or guidance from their providers ahead of the new pension freedoms that came in on April 6

BlackRock 12 August, 2015 | 4:31PM

Morningstar's "Perspectives" series features investment insights from third-party contributors. Here, Tony Stenning, Savings and Investment Expert at BlackRock, comments on Pensions Freedoms four months on.

It is four months since the new pension freedoms came into force. For the time being, many retirees are sitting tight, waiting to see how the new rules will bed down before committing to any wholesale changes in their financial plans.

However, two clear issues have emerged since the new freedoms have been established: The first is that many people still do not feel equipped to make the right decisions, and secondly, that a ‘free’ market for products does not yet exist.

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BlackRock  has assets under management totalling $3.8 trillion across equity, fixed income, cash management, alternative investment, real estate and advisory strategies (as at 31 December, 2012).

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