Pensions calculator trend highlighted by Defaqto

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Pensions calculator trend highlighted by Defaqto

Tue 18th Jan 2011

Research firm Defaqto has picked out a trend within the retirement savings industry and encouraged advisers to keep abreast of the situation as it develops.

The company revealed that a survey of independent financial advisers (IFAs) found that 77 per cent sold personal pensions the most, with such products proving to be more popular than other options available to savers.

Wealth management consultant at Defaqto Matt Ward urged IFAs to make sure they are aware of all the fees relating to such pensions, so that they can advise clients in an effective way.

"Despite challenges from stakeholder pensions and SIPPs over the past ten years, personal pensions remain a key retirement saving and consolidation vehicle," he said.

Defaqto revealed it has published a guide to personal pensions online and hopes it will help IFAs to stay up to date.

Last month, the organisation published a report showing consumer engagement with retirement savings could be improved by providers ensuring there is more of a guaranteed return on people's capital.

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