FCA plans default investment option for personal pension savers

The Financial Conduct Authority (FCA) said a default investment strategy for personal pension customers would help cut through complexity faced by customers who do not take advice. A consultation paper released on Thursday (25 November) said non-workplace pension customers have to choose their own investments from an increasingly wide range of options. This complexity can make it hard for some customers who do not take advice to choose investments that meet their retirement needs.   The default option would, the regulator said, need to be "an appropriately diversified basket of invest...