Pension law changes 'give people more freedom'

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Pension law changes 'give people more freedom'

New pension rules will give retired people more freedom to decide how to invest their pension pot, it has been stated.
Malcolm Cuthbert of investment advisory firm Killik & Co said that under the old rules, protected rights funds had to be invested in insurance companies.
"From [now] onwards they can invest it within the full range investment for self-invested pension plans," he said.
Fellow spokesperson Hannah Edwards predicted better returns if an investor spreads money across a wider range of assets.
From the start of this month, investors have been able to place their protected rights into self-invested personal pensions (SIPPs).
Before, they could not transfer their "pot" into such a scheme.
According to the Scottish Widows 2008 pensions survey, consumer confidence regarding the sector is low.
Of those polled, 41 per cent felt better off five years ago than they do now, compared to 39 per cent in 2007.
Just 31 per cent of people aged 45 to 49 are optimistic about their short-term finances, a figure which increases to 48 per cent for those aged 60 to 64.
ADNFCR-323-ID-18814258-ADNFCR

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