The Financial Conduct Authority's (FCA) rules on the regulation of pension dashboard service firms should be modified to help consumers take the next step towards making decisions about their retirement savings, Aegon has said.
Responding to the FCA's consultation CP24/4 which closes today (8 May), the provider said at present there is a "sharp break" for consumers using the dashboard where they are presented with all the information about their pension savings but then left with no options on what to do next. Pensions director Steven Cameron explained: "Pension dashboards have the potential to create a step change in pension engagement. But to fully capitalise on this opportunity, regulation should allow firms with appropriate permissions to support individuals not just to view their pensions data but cruciall...
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