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Self-invested personal pensions (SIPP) have failed to properly disclose retained interest charges linked to cash accounts and now face stricter regulatory rules.
The Financial Conduct Authority (FCA) has said it is concerned providers' projections of what pension savers can expect to receive in retirement if they buy certain products are too high, and it wants to standardise the process.
Providers will not have to apply the ‘second line of defence' risk warning procedure to pension pots worth £10,000 or under, the Financial Conduct Authority (FCA) has said.