The increase in the income tax rate for higher earners may lead to a reconsideration of their pension contribution strategies.
Related topic: Pension
The Institute has suggested a ‘double lock’ of earnings indexation with inflation protection.
WWFS provided unsuitable pension transfer advice, largely to members of the British Steel Pension Scheme.
Advisers said that although a single pension pot could be beneficial for employees, it would be a "nightmare to establish".
The changes would give workers the right to ask new employers to pay pension money into an existing pension pot.
There is currently a gap of around £25 per week between the average DC pension income of men and women.
Advisers can refer clients to the Age Partnership’s Pension Income Service, while they earn additional revenue.
More than half were unaware that disclosing poor health could deliver extra income.
The cost of public sector pensions rose to £2.3 trillion in the 2020-21 financial year.
The average tax refund per saver was £3,551 as a result of the incorrect amount of tax being charged from pension income.