As an absolute minimum, all those approaching retirement should be made aware of the pension freedoms and the choices they now need to make at retirement. Research shows that employees expect their employers to help them with this, and the workplace provides a great forum to get such messages to large populations facing these new decisions.

But the minimum is unlikely to be enough to help the vast majority of people in making the best decisions when taking their pensions. They will need education to understand these choices, how to find them, and guidance as to how to evaluate which is best for them. Many will also need further support to help them put their decisions into action.

There has never been more need for financial education and access to advice to ensure that retirees make the most of their pension and make good, well supported decisions to help their financial security in retirement.