Pensions - Articles - Urgent need for better at retirement support

 Commenting, Steve Webb said: “These figures show that we still have a very long way to go on the DC savings journey. Most savers build up relatively small pots and cash them out in full, and we urgently need to get to the stage where pots are large enough to take gradually over retirement. The drop in use of financial advice increases the need for the FCA to complete its review of the boundary between financial advice and ‘guidance’. Hundreds of thousands of people take their pensions each year with no advice, and much more needs to be done to help them make well-informed decisions”