No mis-selling over SERPS - FSA

The regulator says it looked at eight million policies involving S2P, formerly known as the State Earnings Related Pension Scheme (SERPS), but found only 120,000 of those needed further investigation. The FSA launched its investigation in early 2005 after concerns were raised about sales standards in relation to Appropriate Personal Pensions (APPs) sold since 1988 - the policies used to contract out. The investigation involved analysis of firms' sales practices and quality controls in the context of the regulatory standards that existed at the time of those sales. As a result of that wor...