Related topic: Later Life

Confusion about the changes is widespread and risks undermining positive saving behaviours and confidence in the UK pension system.

30% plan to increase their contributions, marking the biggest year-on-year shift in pension behaviour, but take-up of financial advice remains low.

Shifts ranged from altering investment portfolios and savings habits to adjusting pensions or gifting money.

Charlotte Allen, chief risk and compliance officer at Key Group, responds to the FCA’s announcement of the timetable for plans to help build a later life mortgage market fit for...

Four in ten say clients will need a review of financial plans and 57% say they need to refresh or improve their knowledge on alternative strategies.

The regulator has confirmed that it will not move forward with 'enhanced advice' proposals.

Advisers expect two thirds (66%) of their clients to be affected and will require IHT advice.

Dave Harris, CEO at more2life, says the way advisers understand and ascertain client affordability can unlock a wider range of lending options for clients in later life.

The lender has also added its 'Age Next Birthday' feature to sourcing systems.

The regulator is also consulting on ways to further modernise pension rules.