Targeted decumulation products could replace advice, MPs told

He told the MPs: "We should be looking at encouraging people to use Money Helper services more broadly as well as enabling providers, pension schemes, employers and others to do more, building on the recommendation you made about enhanced guidance."

"But as people get closer to retirement and have many different pensions to draw on they can benefit from regulated financial advice, so we should look at all those options."

carmen.reichman@ft.com