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Pensions advice still needed – CII and Sofa

The Chartered Insurance Institute and Society of Financial Advisers have warned the Pickering review that pensions will still require advice.

The CII welcomes moves towards simplification and to reduce red tape but it is concerned that some of the recommendations will have a huge impact on peoples&#39 final salary schemes increasing the need for advice.

Sofa managing director Brian Lawless says: “We are concerned that some of the recommendations made would have a huge impact on a person&#39s final pension fund and we are concerned that if they were implemented and not explained properly through professional advisers, this may lead to problems.”

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