Defaqto encourages use of new system for pensions calculator customers

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Defaqto encourages use of new system for pensions calculator customers

Anyone who is currently deciding which pension product to opt for could benefit from a new feature unveiled by Defaqto.

The company has launched a star rating system to provide an independent assessment of a variety of financial products, including long-term retirement savings.

Head of marketing at Defaqto Urvashi Roe highlighted how important it is for people to consider every aspect of a deal, rather than focusing solely on how much it costs.

Mr Roe explained that the company's star rating system will help to encourage consumers to consider what they need from products before purchasing them.

"If consumers focus on price alone they can run the risk of buying an inappropriate product that doesn't meet their needs," he added.

After launching the new system, head of research at Defaqto Brian Brown explained that some people may only require a very basic product, while others would be sensible to pay more as a result of their circumstances.

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