Altmann says give firms tax breaks for auto advice
Saga director general Ros Altmann says the Government has an obligation to ensure people have access to advice on auto-enrolment and is calling for tax breaks for employers that offer employees advice services.
Speaking to Money Marketing at the Conservative conference in Manchester this week, Altmann said advisers are best placed to help employees decide whether to save into a pension.
She said: “There is an obligation on the Government to make sure people are getting the advice and information they need, you cannot rely on it coming through by osmosis. Some people should not be in pensions, some should be in Isas and some should pay back debts.
“If the employer wants to make sure the right people go iffnto the pension, an adviser is the best thing they can bring in and proper tax relief would make it an attractive proposition.”
She added that providing advice to big groups could help advisers service the mass market.