FCA declines to say if pension freedoms were a 'mistake'

Annual public meeting

Hannah Godfrey
clock • 1 min read

The Financial Conduct Authority (FCA) declined to answer whether it believed the introduction of pension freedoms was a mistake that has led to greater opportunities for pension scammers.

At the FCA's annual public meeting on Thursday morning (24 September), the regulator side-stepped a question on whether it believed the introduction of pension freedoms was a mistake. FCA interim executive director of strategy and competition Sheldon Mills, who was called upon to answer the question, said such a question was "a policy question that we would direct to government". He said the FCA's focus remained on "ensuring consumers are protected".   Then, FCA chair Charles Randell, who was chairing the meeting, interjected, stating the way in which pension freedoms were introduc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Sounding the alarm: Facing the retirement reality check

Sounding the alarm: Facing the retirement reality check

'At the heart of the issue is a worrying lack of engagement'

Laith Khalaf
clock 17 June 2025 • 3 min read
Why we plan holidays, not retirements: Changing the client conversation

Why we plan holidays, not retirements: Changing the client conversation

'This is scary for us as an industry but even more scary for us as a nation'

Verona Kenny
clock 04 June 2025 • 4 min read
Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Majority of pre-retirees expect to live with someone else in retirement

Martin Richmond
clock 03 June 2025 • 8 min read