Turner, Hoban and Webb dismiss RDR fears

In March, a cross-party group of MPs and peers wrote to the three politicians demanding that the Financial Services Authority (FSA) must act to protect the poorest pensioners from falling into the advice gap. The MPs drew on a report by the International Longevity Centre (ILC) and Partnership, which supported the underlying principles of the RDR, but said it risked cutting the lowest paid out of financial advice and leading to poor pensioner outcomes. However FSA chairman Turner, Treasury financial secretary Hoban and pensions minister Webb said there are already measures in place to ...