The FCA has published Consultation Paper 16/22: Pension Wise standards: changes for secondary annuity market guidance (CP16/22). In CP16/22 the FCA proposes to make changes to the standards that apply to Pension Wise designated guidance providers. These changes are required as a result of the Government’s decision to extend access to Pension Wise to individuals considering selling their annuity income and to contingent beneficiaries with an interest in these annuities. In addition, to reflect how consumers are using Pension Wise and how the service has evolved since it was established, the FCA also proposes to make certain minor changes to the standards that will apply to both retirement guidance and guidance about selling an annuity income.
View CP16/22: Pension Wise standards – changes for secondary annuity market guidance, 6 September 2016