The ABI is claiming its campaign calling for the removal of RU64 has been a key factor in the FSA's decision to consider withdrawal of the rule.
In the trade body’s initial response to the FSA announcement, Francis McGee, head of regulation and strategy at the ABI, says the group supports the plan to abolish RU64, as the rule no longer fits the modern pensions market. “We've been calling for this change for some time, and it's really good to see the FSA making progress. A key part of the ABI's agenda for action on savings is to build a pensions industry fit for purpose - and that needs modern regulation that is also fit for purpose.,” says McGee. “The FSA has done some thoughtful work on why advice about retirement saving has...
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