Half of Retirees Not Taking Advice

Some 645,000 pension plans were accessed over the past year, but just 48% of savers took advice, FCA study shows

Holly Black 25 September, 2019 | 1:55PM

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Almost half of all pension pots accessed over the past year were tapped into by savers who had not taken any advice or guidance, according to the Financial Conduct Authority’s latest Retirement Income Market Study.

It found that more than 645,000 pension plans were accessed in the year to March 31, 2019 and in 48% of cases no advice was taken.

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About Author

Holly Black  is Senior Editor, Morningstar.co.uk

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