Ark Financial Planning makes retirement calculator suggestion

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Ark Financial Planning makes retirement calculator suggestion

A source from Ark Financial Planning has highlighted how few people take advantage of the open market option on their pensions.

Phil Perry, co-founder and co-director of the independent financial advisory organisation, stated that his company receive some enquiries regarding this area of retirement savings.

However, he noted that there are not that many individuals who ask about open market options and suggested this is because of a lack of knowledge on the part of consumers.

The Ark Financial Planning representative explained that there are plenty of savers who qualify for the open market, but are not aware of the benefits.

Mr Perry claimed the majority of individuals do not understand pensions and investments, adding: "People want to know where the best place to go is and what will get the best growth."

His comments were made in response to research by unbiased.co.uk, which found 37 per cent of individuals seeking an independent financial advisor in November did so to talk about pensions.

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