Samantha Seaton, Moneyhub CEO, comments on HMRC flexible payments from pensions

Samantha Seaton, CEO of Moneyhub commented:

“Pension freedoms have allowed people to engage more actively with their pensions, but there is still a lot of speculation around whether they are suitable for everyone, especially those with more modest pots. In May we’ll see changes to the State pension credit rule which could leave Britons £7,000 a year worse off, so it is integral that advisers use the most up to date information from clients to give accurate advice. Open Banking has allowed both businesses and consumers to share their data with third parties, giving a clearer picture of your financial position, highlighting opportunities to increase contributions and save more.”