The selling pensions products to those on a low income

survey

Results of the latest Incisive Buzz survey

We asked 185 intermediaries if they thought there are dangers in selling pension products to those on lower incomes? Their comments were as follows: l Means-testing removes the incentive to save. • If they need access to capital before retirement then pension investments are too inflexible. • Current benefit system is a minefield to give advice, but, in the long term, state benefits are unsustainable and people will be forced to make personal provision. However, nothing will be done because of political cowardice and expediency. • The danger of the pension credit trap renders it imposs...