Wheatley: Consumers liable for 'Las Vegas' retirement decisions

Addressing the National Association of Pension Funds (NAPF) investment conference in Edinburgh on 11 March, Wheatley (pictured) said consumers will be liable for their decisions in retirement as long as the industry complies with the set out conduct rules and standards. The regulator has stipulated providers need to signpost people to the government's guidance service Pension Wise, as well as to regulated advisers, and need to give personalised risk warnings to people wanting to access their pension pots. Wheatley acknowledged the industry's "anxiety" over liability issues and how far...