This will finally put consumers rightfully at the centre of pension policy and ensure they are not caught out by sudden changes – advisers can be ahead of the curve and on hand to make the relevant recommendations.

Finally, the government must do more to dispel rumours of cuts to pension benefits. As mentioned earlier, the weeks prior to both the Autumn and Spring Budget were rife with rumours of dramatic changes to pension policy.

Silence speaks volumes, and simply not mentioning the rumours in the final announcements will do nothing to calm rumours – the public will demand straight answers. Honesty and transparency will certainly help to restore public confidence.

The government clearly has a long way to go before public confidence is restored – and indeed, meaningful policy change will take time to develop and implement. However, there is no excuse not to dedicate further resource to improving consumer access to advice.

The past year has proven that generic guidance is not suitable to help savers adjust their retirement strategies in accordance with
complex changes to pension policy.

Advice is vital. And only through education and improved sector and policy transparency, will savers be able to get the help they need to effectively plan for their pension. Without such measures, it is unlikely that confidence in pension policy will be restored any time soon.

Andrew Megson is the executive chairman of My Pension Expert