My Pension Expert's new research reveals the extent to which retirees are missing out through lack of financial advice

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Almost half of retirees are suffering lower living standards as a result of not taking financial advice.

My Pension Expert
It is feared that many are not seeking financial advice and considering their retirement choices and instead are sitting on their dwindling pension pot.

Recent research by My Pension Expert has revealed that 45% of retirees have a reduced standard of living due to the amount their pension pot is worth or the lack of savings they have built up.

It is feared that many are not seeking financial advice and considering their retirement choices and instead are sitting on their dwindling pension pot.

The industry strongly recommends shopping around before locking into an annuity and often enough, lifestyle factors are not taken into account; certain medical conditions may mean retirees could qualify for a higher income.

A standard annuity often does not take these factors into account, meaning many may suit taking out an enhanced annuity. In order to make sure that retirement is relaxing and trouble-free, getting financial advice before retirement may make a huge difference.

My Pension Expert is a company of Diploma Qualified Independent Financial Advisors who specialise in the retirement market.

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Samantha Green
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