FCA outlines extra protection for pensions

Watchdog outlines ‘risk warnings’ that must be provided to those taking cash out of their pension pot


Savers over the age of 55 who want to take money from their pension pot rather than buy an annuity will be given extra protection under rules set out by the City watchdog.


The Financial Conduct Authority (FCA) said from 5 April, when the new pension freedoms begin that allow people unfettered access to their retirement pot, firms will have to provide consumers with “risk warnings” based on their individual circumstances.


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via Business Feeds

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