The regulator wants to introduce a default pension investment option for non-advised savers outside of workplace schemes to boost retirement savings.
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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
