Gov’t Says Pensions Advice Shake-Up Will Boost £1.6T Assets

Law360, London (March 12, 2019, 2:34 PM GMT) -- The government unveiled plans on Tuesday to help reshape Britain’s financial adviser services, used by pension schemes to help them make long-term investment strategies, in an attempt to boost the nation’s £1.6 trillion ($2.1 trillion) pot of retirement assets.

The Department for Work and Pensions said it wants to promote competition in the investment adviser market to help trustees get better value for money on the pension pots they manage. The government hopes to give a stimulus to savings made by investors in pension plans to ensure they are well-prepared for retirement.

The plans were revealed in response to a probe...

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