Insurer responds to HM Treasury setting up new public body offering debt advice, money and pensions guidance
John Perks, Managing Director of Life and Pensions at LV=, said: "LV= welcomes the introduction of a merged, single money and pensions guidance body as this will help people wishing to explore a range of issues at retirement such as debt and equity release.
“We believe there should be a holistic approach to retirement income planning, taking into account the customer’s assets and exploring all the options available to them. All consumers approaching retirement need help navigating the options and choices available to them and guidance can be a good route to advice for those that need it. We therefore believe guidance for the over 55s should be mandatory for those that don't take advice.
“To ensure consumers get the most benefit from guidance, it’s essential that Government and industry work together to make them aware of the new body and the options available to them in retirement.”
LV= research has found: