Drawdown providers could be required to give customers charges in pounds and pence following an in-depth review of the retirement market by the Financial Conduct Authority (FCA) revealed complexity makes it hard to compare products.
The regulator's Retirement Outcomes Review, released today, discovered up to 44 charges can be linked to a drawdown product, some of which were "complex and opaque". The review looked at the operation...
Transfer did not proceed
Martin Lines outlines key issues
The question is: what is the right thing to do?
Fit and proper deadline
‘A lot of work to do’
Comprises c.300,000 customers
27 and 28 October
Doesn’t have to be complicated
Starts beginning of November