Pension freedoms will be with us very soon. Some of you will be taking advantage of the new options with effect from a few weeks from this post.
There are some problems with pension freedoms that most of the financial advice sector is not being completely honest about; fact is pension freedom is likely to be as much in favour of the industry and the advisers, as it is to the likes of you.
Yes you will soon be able to free up some cash from your pension and you can make some changes. And you should. But you should absolutely not accept what your provider or you adviser tells you to do.
The reasons are laid out below.
1. You will not get the lowest level of charges – which makes pension freedoms one of the worst things you can do.
2. You will not get the right choice of investment funds – over 70% of managed pension funds don’t beat the index.
3.Your adviser and provider- could well be earning as much as you over ten years.
MoneyTrainers provides training and education so you can make the most of your money, including pensions.
Enjoy the video below – Clarkson kind of gets where the industry was and is.
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