Spire Platform Solutions has warned the FCA against promoting a binary choice of income drawdown or annuity through default investment pathways.
Back in January, it was announced the FCA would consult further on how to implement default investment pathways for non-advised savers entering drawdown. In its response to the FCA's consultation paper, which closes for responses on Friday, Spire warned the regulator against pressing ahead with its proposals. The retirement market platform said choosing a single investment pathway based on proactively selecting one of four ‘Investment Pathways Objectives' (set out below) at outset and re-checking this every five years only made sense for those with personal pensions savings of less th...
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