ABI warns of EU pensions threat

Speaking before an influential House of Lords Committee today, ABI director of consumer affairs, Maggie Craig, expressed her concern new EU directives could conflict with features of the Pensions Act. The European Consumer Rights Directive, aimed at improving consumer protection in Europe, could get in the way of auto-enrolment in pensions, according to the ABI. Craig says the UK already has high standards of consumer protection in the financial services business, with much of the industry being exempt from the provisions. As negotiations are ongoing, and the directive could change...