Pension advice is UK's biggest request

Thursday, October 27, 2005

IFA Promotion, the company that promotes the benefits of independent financial advice, has revealed that pensions are the number one topic that the UK seeks advice on.

Experts on pensions, or personal retirement planning, accounted for 37 per cent of the 535,000 requests for independent financial advisors that IFA Promotion processed in the year up to September.

"Retirement planning has always been a key issue for which people seek expert independent advice," said David Elms, chief executive of IFA Promotion.

"However, whilst raw numbers of people seeking pension IFAs have increased in line with the overall number of advice-seekers, we'd hope that the imminent pension reforms would prompt a greater share to review their arrangements well in advance of April."

April marks the A-Day reforms, which could result in people taking advantage of new legislation, or losing out.

Earlier this week, the Financial Services Authority launched a website offering jargon-free, impartial advice on mortgages and at the beginning of the month, the National Association of Pension Funds released a plain-speaking guide to the government's Pensions Protection Fund (PPF).
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