Wednesday 19th April 2006
Britons have been urged to carefully consider their pensions plans following the changes implemented earlier this month on A day.
According to David Elms, chief executive of the Independent Financial Advisors Promotion, the changes to the pension system will have a big impact on the way people should plan their pension.
Searching online financial advice sites and seeking the guidance of an expert, Mr Elms argues, is vital to understand the pensions minefield.
"Pensions remain an area where there is a lot of information to take in and where expert advice is required," he said.
"People who want to review their pension planning and make it tax efficient have got to seek expert advice."
Kevin Carr, head of protection strategy at LifeSearch, has also reiterated the need to seek advice before switching, arguing that "consumers should be careful and seek advice…as they cannot currently complain effectively regarding the suitability of a non-advised sale, or switch".
©
Everything on preparing your finances for your children's futures. From Child Trust Funds through to tax planning. Request your FREE brochures here.
