The Association of Independent Financial Advisers has suggested why more and more people are choosing to get expert advice regarding their pension plans.
According to Tracey Mullins, spokesperson for the trade association, one of the contributory factors is that fewer people now have faith in the pension system than a few years ago - perhaps as a result of the high-profile collapse of several occupational pension schemes.
Another issue is that the amount of exposure to pension issues has increased, with more newspapers choosing to raise pension concerns than ever before, she added.
Meanwhile, Ms Mullins also suggested why people were choosing a personal environment to get financing tips, as opposed to using impersonal sources such as the internet.
"On the whole, people act on face-to-face advice and they are more likely to take action if they receive face-to-face advice," she said.
Typically, people who wish to supplement their state pension in retirement can choose from a range of options.
These may include arranging an occupational pension, a personal pension or passing up on traditional retirement income plans to invest in property or the stock market.
Financing advisory organisation explains reasons for growing pension business
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Financing advisory organisation explains reasons for growing pension business
Thu, 01 Mar 2007
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