Chesterfield’s Retiring Workers Offered Help to Receive Right Pension Advice
Chesterfield’s soon-to-be-retired workers are being encouraged to question their pension providers about options for their pension pot with only two months until major legislation changes.
The advice comes from Independent Financial Planners Cheetham Jackson, based on Saltergate, who are concerned that many people are not aware of new flexible pension rules that mean they may be able to access their entire pension pot from 6 April 2015.
According to Paul Bamford, an advisor at Cheetham Jackson, anyone due to retire prior to April 2015 should seek independent advice as their pension providers can only signpost information attached to their own plans and not give regulated advice.
He said: “We are speaking to an increasing number of people approaching retirement before April 2015 who haven’t been told of the options by their pension provider. I have concerns that people will be locked into an annuity which takes away options to use their own money in the most effective way. If the information isn’t being volunteered by pension provider, people assume an annuity is ‘the norm’. It is imperative people start to ask more questions about their options”
Cheetham Jackson offers complimentary, no-obligation drop-in advice sessions at its offices on Saltergate in Chesterfield, where advisors are on hand to offer impartial advice.
