At-retirement financial advice in the workplace report
The report draws heavily on new qualitative research conducted by Bdifferent exploring employer’ reactions to two new initiatives that Her Majesty’s Treasury is considering:
- Increasing the tax exemption around employer-arranged pensions advice from £150 to £500.
- Introducing a Pensions Advice Allowance which allows DC savers to withdraw up to £500 from their DC pension funds without incurring a tax penalty, provided that this amount is used to purchase pre-retirement advice.
This research provides an overview of some of the options with the aim of stimulating discussion around these, rather than providing any quantitative analysis of the likely outcomes of each option. Further investigation would be required to evaluate each option in order to assess the potential outcomes from these.
The report is sponsored by LV=. Sponsorship has been given to help fund research, and does not necessarily imply agreement with, or support for, the analysis or findings from the project.
To download the report, please click here
To view the press release, please click here
Keywords: LV, financial education, guidance, at-retirement