The FSA's move yesterday to persuade consumers to reassess the contracting in or out status of their pensions has prompted comment from one IFA who questions whether the City watchdog is setting advisers up for another fall.
John Nightingale, principal at Personal & Corporate Financial Planning says: I see the FSA have issued guidance regarding contracting in or out of S2P. It appears that the FSA guidance, to those who are currently contracted out, is that they should seek guidance on whether they should remain contracted out. ”Call me cynical but it appears to me that the FSA are sitting on the fence somewhat and expect us, the IFA community, to provide the guidance. ”As the FSA is the industry regulator, and ultimately decides what is right or wrong (in some case many years down the road) you would expect th...
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