At-retirement financial advice in the workplace report

Document type
Report
Author(s)
Roux, Teresa; Echalier, Melissa; Luheshi, Sarah
Publisher
Pensions Policy Institute
Date of publication
20 September 2016
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion, Employment
Collection
Social welfare
Material type
Reports

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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.

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