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The limitations behind the pensions dashboard.
10th February 2017
The Treasury has recently announced its plans to build a pensions dashboard prototype which will let savers see all their pension pots in one place by March 2017.
Jonathan Watts-Lay, Director, WEALTH at work, a leading provider of financial education in the workplace, supported by guidance and advice comments; “Anything which helps people to understand what pension savings they have is a good thing. However, as retirement income is no longer just about pensions but all types of savings, the dashboard clearly has limitations as it only considers pensions and may in fact not include all types e.g. defined benefit schemes.”
He continues; “What individuals really need is financial education, guidance and advice on how best to take income in retirement from all their savings, and how to do this as tax efficiently as possible.”
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