FCA targets pension transfers and SIPPs in major review

The regulator noted the shift from defined benefit pensions to DC pensions, placing greater responsibility on consumers to save enough for their retirement. The regulatory framework for pension projections, defined contribution (DC) pension transfers and consolidation, and self-invested personal pensions (SIPPs) will all come under the microscope as part of the review. In the paper, the regulator is asking on views on how a new regulatory regime could allow consumers "effective and engaging" digital tools with "sufficient protections" against potential harms; views on whether changes ...