FCA 'suspects' default funds operate in non-workplace pension market
Subject to less protections than workplace defaults.
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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