FCA: Pension Wise providers liable for guidance guarantee redress

It clarified in a paper out on 3 July that where redress is due, it will be paid by the designated guidance providers such as The Pension Advisory Service (TPAS) and Citizens Advice. Pension Wise is a retirement guidance service currently delivered for free to those looking to enter retirement. It was set up as a safeguard for consumers following the government's pension freedom reforms, which allowed all savers over the age of 55 to access their savings and spend it in any way they wish. Further reading: Everything you ever wanted to know about Pension Wise The FCA does not...