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FCA 'suspects' default funds operate in non-workplace pension market

Subject to less protections than workplace defaults.

"Informal defaults may be operating in the market for non-workplace pensions" - the FCA
"Informal defaults may be operating in the market for non-workplace pensions" - the FCA
  • Tom Ellis
  • Tom Ellis
  • @tellisthenews
  • 02 February 2018
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The Financial Conduct Authority (FCA) has said it "suspects" de-facto default funds are operating in the non-workplace pension market where consumers have less protections than the workplace market.

In its consultation paper on the non-workplace pension market, the FCA said default funds, which are popular in workplace schemes, were subject to regulations and protections for consumers that default...

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