Of all the things the FSA is trying to fix, the news yesterday that it wants to 'fix' the consumer's 'misunderstanding' of projection rates must rank as one of the more unexplainable ones.
For, in this time of wrapping consumers in cotton wool and removing all references to 'Caveate Emptor' it does seem rather daft to remove one of the simpler and more easily understood tools required to help people understand what might happen to their hard-earned wealth. Certainly, there is a valid argument to suggest people could mistake the numbers put forward as firm projection rates rather than guidance. However, if the advice being given is being put into context at the time the numbers are pulled out of the drawer or printed off the screen, then it is hard to see why the FSA reg...
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