PFS proposes retirement advice 'voucher system' funded by fines

It said a national retirement advice service formed part of its formal response to the Financial Conduct Authority's (FCA's) retirement market income study consultation. It added its proposed service would have an overarching objective to ensure every consumer has timely access to straightforward information, in plain English, to help them better understand the key considerations and options available. The increased freedom subsequently announced by the chancellor has highlighted the need for the creation of such a service, with the likelihood that even more consumers will need and be...