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...
Nine in 10 do not have income protection
Set to become part of Single Financial Guidance Body
Also plan to scrap NI on contributions
Eight-week high against US dollar