DWP and FCA pension guidance could be 'confusing and costly'

The DWP is consulting on the introduction of stronger pension guidance for the members of trust-based schemes following obligations that came from Government legislation. Last month, the FCA closed its consultation with members of contract-based pensions on the same topic.  However, Aegon has highlighted that despite being the same topic and presenting an ideal opportunity for a joined-up approach, both proposals differ significantly. Pensions director at Aegon, Steven Cameron, said: "For those planning to access their pension flexibly without advice, a stronger nudge towards pensions...