The Financial Conduct Authority (FCA) has written to pension and retirement income providers asking for details on consumer access to - and charges on - decumulation products.
The data request comes as the watchdog announced it was delaying the launch of its retirement outcomes review until the second quarter of 2016. It previously intended to publish at the beginning of next year. After noting a "significant" increase in sales of drawdown products following the pension freedoms introduced in April 2015, the regulator is collecting data on decumulation products offered to consumers, the mix of investments held within them, and the charges levied on the products over time. The FCA sent out a fresh batch of letters to providers on 23 November. The surve...
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