Research flags warning
Firms have been referred to enforcement
Most savers have no intention of taking on the risks of investing in equities once they have begun to draw their pension, research suggests.
The regulator has encouraged people to seek independent financial advice if approached about investing their pension, as it warned of a rise in investment scamming ahead of the pensions freedom coming into force in April.
The Association of British Insurers (ABI) has launched a campaign to help customers understand their choices in retirement following the government's pension reforms.
Consumers must accept responsibility for their decisions in retirement when the new flexibility rules come into force in April, Financial Conduct Authority (FCA) chief executive Martin Wheatley has said.
More than half a million people will be able to take advantage of the government's changing regulation around pensions from 6 April, according to latest official estimates.
Half of adviser businesses have already seen their bottom lines boosted by the pensions freedom announced last March, according to research.
The Money Advice Service (MAS)'s retirement advice directory, put in place to support the incoming pension freedoms, has opened for adviser registration.
Pension scandals and clever ruses. Here is our weekly heads-up on the stories that may have caught your clients' attention over the weekend...
More than half of a 'representative sample' of workers questioned in a recent survey said they were unaware the government's pension reforms had happened.
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There are still too many people in financial services who think they can "keep their customers where they want them" by quietly carrying on with old-style practices, Pensions minister Steve Webb has said.
Only a third of advisers are currently qualified to provide long term care advice despite growing interest from advisers in the area, the Association of Professional Financial Advisers (APFA) has found.
The government expects some people to "make the wrong choices" and receive a worse outcome than under the existing system when changes designed to give retirees the power to do as they wish with their savings are rolled out in the spring, pensions minister...
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Money Advice Service (MAS) chief executive Caroline Rookes did "not intend" to put the ethics of financial advisers in question, the service said following a raft of criticism from the industry.
The guidance guarantee should be delivered as a process with various touch points not a one-off token conversation, the chief executive of the Citizens Advice Bureau has said.
Revealed: What advisers told the Treasury about pensions 'guidance'
Almost a third of UK adults do not know what changes to pensions were announced in the Budget or how they are affected, according to research.
The government's Pensions Bill, which was first introduced in May and is set to reform the UK's state and private pensions, is now taking views from the public before it reaches its final stages in the Commons.
Pensions minister Steve Webb has announced the Department of Work and Pensions will publish its Reinvigorating Pensions report on 22 November.