The Tax Incentivised Savings Association (TISA) has said it is in talks with the Financial Conduct Authority (FCA) to ensure the financial services industry includes realistic information in its advice and guidance about how property can be used to support a pension.
TISA has had several talks with the regulator so far, with director Charles McCready saying that it has been "very responsive". He said the association's concerns stem from a growing percentage of the population that take the view "my house is my retirement" but who perhaps do not know how much money either downsizing or relying on equity release will deliver. McCready continued: "Some 27% of millennials believe their house will cover their retirement, while a considerable number of those in their 50s will have under-saved and be wanting to use this as an asset towards retirement inco...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
