MOST pension customers say they do not trust their retirement provider to be impartial, a survey by consumer advice organisation Which? has found.
The group’s poll claimed that 65 per cent of people do not trust advice given by the industry, in a blow to Prime Minister David Cameron’s plan to have pension providers help people plan for their old age. That number rises to 75 per cent when the age range increases to between 55 and 64.
Which? executive director Richard Lloyd, said: “With many unsure about how to get the most from their pension, and not trusting guidance from providers, it’s crucial that everyone involved put in place a consumer-friendly system that supports people to make the right decisions.”