Amendments are being made to the format and the content of stakeholder pensions decision trees, says the FSA, which consumers are expected to use when deciding whether or not to take out a pension.
In its Miscellaneous amendments to the Handbook (No. 12) published last Friday,the financial regulator proposes to shorten the length of the decision treesafter consumers complained they were too lengthy. Amendments will also be made to state even more clearly that the trees themselves are NOT giving any advice whatsoever. Such bold statements are on the back of two separate consumer research papers published in April last year, which suggested consumers not only thought the trees were "too lenghty" but more than half of those questioned (52%) thought going through the decision trees...
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