Government 'should provide pension scheme advice'
The government ought to provide some form of advice service for consumers who are unsure of whether or not to invest in a company pension scheme, it has been suggested.
Clive Cowdery, chairman of the Resolution Foundation, insists that the government involvement in a service of this kind would give consumers the kind of reassurances they need before making important financial decisions.
In fact, a full 70 per cent of UK consumers polled by the Resolution Foundation said they would prefer a financial advisory service to have government involvement, Mr Cowdrey told BBC Radio Five Live.
"Perhaps that's because after the last ten years or so of history of the financial services sector's involvement with people they want to see that there's some stamp of authority on the advice that's given," he said.
Figures from financial services firm Edward Jones showed recently that millions of UK consumers have yet to start planning and saving for their retirement.
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