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

Two separate consultations

clock • 3 min read
According to Cameron, the FCA has proposed that providers must provide a "stronger nudge" to all over 50s who are transferring, and they need to arrange bookings with Pension Wise for clients who don't want to do so themselves.
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According to Cameron, the FCA has proposed that providers must provide a "stronger nudge" to all over 50s who are transferring, and they need to arrange bookings with Pension Wise for clients who don't want to do so themselves.

Aegon has warned that differences in the pension guidance proposals from the DWP and FCA will cause customer confusion and additional cost for providers, while others are keen to see a greater emphasis placed on the benefit of professional financial advice.

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...

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