Stephen Timms on pension freedoms, guidance and advice

The work and pensions select committee has published a report on the five years of pension freedoms which found that savers needed more support to navigate the pension regime.

Overall, the MPs found pension policy had revolved too much around pension pots rather than the individuals who were relying on this money for their later life security.

The committee said the government and regulators needed to play a more active role than they did when the pension freedoms were first introduced to help guide savers.

This week FTAdviser news editor Amy Austin talks to Stephen Timms, the committee's chairman and a former pensions minister, about the report and the state of the pensions regime.

They discuss what how pension freedoms should be reformed, and how savers could be encouraged to seek guidance or even advice.

The FTAdviser Podcast is the weekly podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

Hosted on Acast. See acast.com/privacy for more information.