Pension provider fears 'advice' risk in FCA's retiree rules

Suffolk Life pensions technical manager Paul Evans said consumers can easily be led to believe they are receiving advice by being asked questions about their personal circumstances and given corresponding risk warnings. "There will be a lot of providers who are concerned they will be seen as giving advice in asking the ‘relevant' questions," he said. "It's an obvious conclusion to be drawn from this. It's all perception. Clients won't understand why these extra questions are being asked." The regulator outlined its 'second line of defence' requirements in a ‘Dear CEO' letter publis...