Are pension freedoms still the right approach?
Increased uncertainty poses very clear challenges for the provision of pensions and advice, says FCA chief. The introduction of the UK's pension freedoms in 2015 transferred the responsibility for a very complex area of decision-making to individuals, the chief executive of the Financial Conduct Authority said in a speech on 15 September.
At an event in Gleneagles, Scotland, Andrew Bailey took the opportunity to tackle a key issue: "Are the pension freedoms still the right approach?"
After admitting that it would be easy to dodge the question by responding "it's too late to change course", it will come as a surprise to few that Bailey confirmed "the freedoms remain the right course to follow". Please link to International Adviser to read the full article by Kirsten Hastings.