FCA launches consultation on adapting to a 'changing pensions market'

The FCA said increased reliance on defined contribution (DC) savings places greater responsibility on consumers to save enough for their retirement and presents "significant, complex choices" about how to use DC pension savings through retirement. In its consultation, the FCA has proposed a new regime for interactive digital pension planning tools for in-force pensions – which it said will give firms the flexibility to tailor projections in interactive digital tools to the level of understanding and the engagement needs of the market. The FCA said it will aim to support role of digita...