Retirement news

More pensioners seeking financial advice

18 January, 2007

According to IFA Promotion's (IFAP) website, nearly a third of consumers have sought help and support from an advisor with concerns about leaving their jobs and getting pensions.

During the last quarter of 2006, more than 120,000 people went on the site to request the details of an advisor in all.

Apart from retirement, other popular reasons for seeking out an IFA included getting help on savings and investments, mortgages and Isas - representing 23, 21 and nine per cent of IFAP customers respectively.

IFAP's chief executive David Elms said: "With the debate on provision for income in retirement intensifying, it is most reassuring to know that more and more consumers are ensuring they get the best possible advice by going to see an IFA."

Karen Barrett, of IFAP, said that the rise of older people seeking advice during the winter months could be because heating and electricity leave them having to review their financial situation.

She added that the possibility of releasing equity in their home could also be on the agenda along with other elements of retirement planning.

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