The regulator is failing to understand the new state of the retirement market and instead seeks to "develop a market that no longer exists", the Later Life Academy (LLA) has warned.
In its response to the Financial Conduct Authority's (FCA) Retirement Outcomes Review, the organisation said it was worried the regulator's focus on just pension income would stifle opportunities for consumers. It urged the FCA to widen its range of reference of the review, acknowledging people are not saving enough in the first place, and to look at alternative ways to fund people's retirement. The FCA launched its Retirement Outcomes Review in July, saying it wanted to review the post-pension freedom world, following its introduction in April 2015. It will consider how the reform...
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