A new directory of regulated financial advisers who specialise in retirement guidance is to be set up to help consumers looking for help as they get ready for life after work.
The Money Advice Service has launched a consultation on creating such a guide because it said people often find it a confusing and fragmented process to find an adviser.
Advisers would not have to pay to be in the directory.
The idea, the organisation said, is to help consumers obtain the right advice, at the right time, and at the right price.
MAS said a high quality specialist adviser was even more important after the radical pensions reforms this year.
It proposes that the unbiased and non-commercial directory would include advisers who specialise in retirement advice and would list only those advisers who offer advice to all individuals irrespective of the size of their pension pots.
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Caroline Rookes, chief executive at the Money Advice Service, said: "Many people are faced with making complex financial decisions as they approach retirement, and it is crucial that they know where to turn for specialist advice, particularly following the changes to pensions from April 2015.
"The directory we are proposing today will help people find the adviser that is right for their needs. It will also make it much easier for people to move from the free and impartial guidance we provide to help people understand their options at retirement, to specialist advice on what product to choose.
"We think these proposals are good news for both consumers and advisers, and hope that the industry does too."
The directory would also allow consumers to search for an adviser by postcode, and compare the costs, specialisms, and qualifications of advisers to help them make a more informed decision.
The directory would also help consumers to transition smoothly from guidance to regulated advice.
Planners will need to satisfy some specified criteria which will be agreed by an independent panel of industry and consumer representatives.
The consultation paper for a retirement directory can be found on the Money Advice Service website. The Service is keen to gather views on the proposal from across the sector by no later than 5pm on Friday 11 July 2014.


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