The Financial Conduct Authority (FCA) has revamped its at-retirement rules as a result of pensions freedom and choice reforms which opened up the retirement income market.
The FCA said its latest paper contains a number of proposals designed to ensure that the "pensions market works well for consumers". New requirements will help consumers shop around and ensure they have enough information to make informed decisions. It also said there would be a "discussion" about remuneration arrangements for the non-advised purchase of annuities. The FCA's consultation paper: • Sets out its expectations about how existing rules and guidance operate in the new environment, providing illustrative examples. • Brings forward proposals for changes to FCA rules....
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