We have described before the difference between Guidance and Advice.
It has now been confirmed at a recent Treasury Select Committee hearing that the Financial Conduct Authority (FCA) and one provider of the Guidance Guarantee service, The Pensions Advisory Service (TPAS), both agree that the proposed service is about making sure that pension plan owners ‘ask the right questions’.
But you don’t need to wait for these organisations to get their collective acts together. We can arm you with those questions, right now.
We believe that there are 40 questions to which you need to have the answers before you make any decisions about taking your pension benefits.
Some of those questions you need to ask yourself to ensure what you do is suitable for you.
Some of the questions you need to ask the provider of your pension plan.
And some of the questions you need to ask your adviser, if you decide to take advice.
Click here to access the 40 questions
The French philosopher Voltaire said “you should judge a man by his questions, not by his answers” but when it comes to choosing your pension benefits you need both questions and answers to make an informed choice.
