Home Business New pension rules strive to help over 55s get 'best retirement possible'

New pension rules strive to help over 55s get 'best retirement possible'

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Pension Wise is a government-backed service which provides free guidance to Britons aged 50 and over, including 45-minute guidance sessions.

At the moment, pension providers are only required to tell their customers looking to draw from defined contribution plans about Pension Wise.

It is believed the changes, which have been set out by Parliament, are aimed at increasing use of the Pension Wise service.

The Financial Conduct Authority wishes to ensure consumers have the right level of advice and guidance regarding their pension to help them make informed decisions.

READ MORE: PIP assessments – how descriptors will determine if you’ll get boosted payments in 2022



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