Providers must give pensions freedom retirees 'personalised risk warnings'

It said rules published today, forming its ‘second line of defence’ for pensions freedom retirees, would protect consumers by giving them risk warnings based on their personal circumstances so they can make informed decisions. The regulator said one of the key purposes is to "encourage people who have chosen not to seek regulated advice, to consider their options carefully before making an irreversible decision". The rules have been put in place as an additional protection for people utilising the 2014 Budget reforms which give savers complete access to their defined contribution pens...