FCA backs Pension Wise move to 'personalised guidance'

Carmen Reichman
clock • 2 min read

The Financial Conduct Authority (FCA) has said it will support a move of Pension Wise towards providing a more personalised service for its clients.

Pension Wise is the government's free at-retirement guidance provider that was introduced in the wake of the pension freedom reforms to help consumers make informed decisions at point of retirement. The government's reforms introduced many savers who would have previously bought an annuity to new complex products such as income drawdown. Pension Wise is not allowed to give personal recommendations, which would be classed as financial advice and come under stricter rules. However MPs argued in a report out last October the service needed to be given more freedom to help consumers av...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Director jailed for near £9m investment fraud

Director jailed for near £9m investment fraud

Declan Nowell sentenced for ‘Ponzi-style’ investment scam

Sophia Panayi
clock 01 June 2026 • 2 min read
Proposed simplified advice rules unlikely to help service new clients, advisers say

Proposed simplified advice rules unlikely to help service new clients, advisers say

Research from AJ Bell

Sophia Panayi
clock 01 June 2026 • 1 min read
Succession Alliance to tackle 'completely unregulated' space this year

Succession Alliance to tackle 'completely unregulated' space this year

Wants to create a ‘minimum set of standards’

Sophia Panayi
clock 27 May 2026 • 4 min read