The industry is split over whether consumers should be urged to seek retirement advice regardless of the size of their pensions, following the Financial Conduct Authority's (FCA) retirement outcome review, which found more than half of pots were encashed - many to be invested elsewhere.
The review, published on 12 June, said 53% of pension pots accessed by consumers since the pension freedoms were fully encashed, though 90% of those had a value of below £30,000. It also found more...
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November