Pension Wise will be of only limited help for those wanting to sell their annuities on the secondary market because of the personal nature of the sale, Aegon has warned.
The provider said the regulator should shift its focus away from guidance provision and encourage adviser involvement instead. The Financial Conduct Authority (FCA) is currently consulting on Pension Wise standards for secondary annuity sales after the government allowed policyholders to sell their pension income for life from next year. Responding to the FCA consultation on Pension Wise standards Aegon pensions director Steven Cameron (pictured) said: "The risks and benefits of selling an existing annuity are so specific to the individual that any guidance Pension Wise may deliver ca...
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