Citizens Advice: Pension freedoms pushing people towards guidance

 
Lauren Fedor
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NEW PENSION freedoms may be pushing older Brits to take a second look at more than just their savings.

One in four people seeking guidance on their pensions is also asking for help on other issues such as managing money, benefits and debt, according to a new report out yesterday from Citizens Advice.

The national charity said that more than a quarter – 27.3 per cent – of people in England and Wales who have met in person with a counsellor from the government’s Pension Wise service have also booked a Citizens Advice appointment for guidance on other financial issues.

Of those meeting Citizens Advice, most (42 per cent) wanted to talk about benefits and tax credits, according to the charity. Just under 30 per cent were eager to get advice on their “financial capability”, including managing money, while 14 per cent needed help with their debt. Four per cent sought employment advice.

In a written submission to the department for work and pensions, Citizens Advice said that access to free guidance on pensions has “been crucial in helping people take control of their finances”.

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