Financial Conduct Authority: Retirement Outcomes Review
LITRG has responded to the FCA’s Review pointing out that it is essential for people to be provided with clear guidance, in a consistent format and at the right time. We therefore welcome the proposal by the FCA to mandate both the use of standard wording and the timing of information being provided. The paper also proposes that pension providers should have to offer non-advised savers certain investment ‘pathways’ so that their investments meet their objectives. LITRG suggests knowing which option a person has selected is a good opportunity to provide some broad guidance to help people think about the tax and state benefits consequences of their pension choices.