Life offices are predicting that Opra's pensions advisory service will be
inundated with thousands of calls from potential stakeholders unable to
understand decision trees.
IFAs are also bracing themselves for a flood of enquiries. The forecasts
come because many of the trees' branches lead to the answer – seek
professional advice. Life offices believe this will result in a boom for
IFAs. But the first port of call is still expected to be PAS.
Scottish Life communications manager Alasdair Buchanan says: “People will
need help in working out what is best for them. Our research suggests that,
under all the circumstances,the decision tree will lead to the need for
advice.
“This advice may not just for be stakeholder. If people are looking to
plan for their future they will be well advised to look for someone that
can give them independent help.”
Clerical Medical pensions strategy manager Nigel Stammers says: “It is not
clear what further information the PAS will be supplying but it can expect
to be very busy.”
l Perspective, p24; Decision trees, p36
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