The FCA has published a “Dear CEO” letter sent by Tracey McDermott, FCA Director of Supervision, to pension and retirement income providers requesting information on barriers to consumers seeking to access their pension savings.
The FCA is requesting information relating to:
- options offered by pension providers to consumers seeking to access their pension savings;
- advice requirements for consumers seeking to transfer out of pensions or into decumulation products;
- treatment of insistent clients;
- transfer procedures; and
- exit charges.
Deadline for responses to the request is 7 August 2015.
View Pensions data request, 1 July 2015
