A group of senior politicians and pension providers have called on the Financial Services Authority (FSA) to review the impact the retail distribution review (RDR) will have on pension provision.
They said the regulator should intervene to mitigate the impact the rule-change is expected to have on consumer access to advice. In a letter to Lord Turner, financial secretary to the Treasury Mark Hoban, and pensions minister Steve Webb, the group urged the government to call a "retirement income summit" to discuss how to prevent the RDR widening the pensions gap. The cross-party group of politicians who signed the letter include Dame Anne Begg, chair of the Work and Pensions Committee; Jonathan Evans, chair of the All Party Parliamentary Group on Insurance and Financial Services; L...
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