MP calls on Amber Rudd to 'fix broken pensions transfer market'

Writing to Amber Rudd, the MP for Eastbourne has suggested the pension transfer market is ‘broken' and needs to be fixed. It comes after the Financial Conduct Authority (FCA) found less than half the pension transfer advice reviewed is suitable, and more than half of consumers are not receiving the right advice, based on information collected over 2018.   In his letter to Rudd, Lloyd said: "I'm writing to express my profound concerns in light of the recent findings of the FCA. This is a shocking figure and, frankly, represents nothing less than a total market failure." MP praises O...