LV= and think-tank Demos are holding fringe events at the three main political parties’ conferences.
The retirement income specialist has organised panel discussions that will look at how the guidance that the government has pledged should be delivered, in order to guarantee the best outcomes for people who wish to convert their pension savings into an income.
The sessions will also look at how to ensure that pension savers that require advice are effectively signposted to regulated channels, and the role the financial services industry will have to play to make it a success.
The panellists from consumer bodies, Westminster, Demos and LV=, will discuss whether product innovation will allow retirees to take advantage of the new pension freedoms that are due to be implemented. Representatives confirmed to attend include Steve Webb MP, Dame Anne Begg, chair of the Work and Pensions Select Committee, and Jane Vass from Age UK.
John Perks, managing director of LV= Retirement Solutions, said: “Those approaching retirement will have even greater choice as to how they take their pension savings from April 2015, and it is important that they are made aware of all the options available to them.
“We believe that guidance will go some way to improving consumer outcomes for retirees by educating them, however where appropriate, individuals really must be encouraged to take regulated advice as in many circumstances this will prove to be more beneficial.
“In our response to the ‘Freedom and Choice in Pensions’ consultation we outlined the changes that we believe need to be made to make sure the pension reforms are successful. We are committed to improving outcomes for those approaching retirement, however the industry has to put customers first to achieve this and to regain the trust of the public.”
