ABI’s Yvonne Braun on advice requirements and ‘excessive’ exit fees

Following mounting pressure on pension providers over “blocking” access to pension freedoms, the Association of British Insurers has hit back.

The trade body proposes scrapping the advice requirement for transfers out of schemes with embedded guarantee annuity rates, despite concerns this puts savers at risk of losing valuable benefits.

ABI director of long-term savings policy Yvonne Braun speaks to Money Marketing pensions reporter Sam Brodbeck on the rationale behind the proposals as well what else needs to be done to ensure the freedoms are a success.

She also discusses the Government’s crackdown on exit charges.