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UK watchdog reveals plans to ‘fix’ pension freedoms

UK watchdog reveals plans to ‘fix’ pension freedoms

The UK's Financial Conduct Authority (FCA) has today published its long-awaited Retirement Outcomes Review, with plans to 'fix' the problems that have arisen due to pension freedoms at the forefront.

In a review document, published on the UK watchdog's website earlier today, key points included:

  • Retirement wake-up packs to be overhauled and issued earlier (from age 50) and more often (every five years)
  • Firms will also be required to provide retirement risk warnings alongside wake-up packs
  • Savers will receive a one-year charges figure prior to entering drawdown

Please link to International Investment to read the full article by Gary Robinson

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