On 21 January 2020, the FCA published a statement on its second review of the market for pensions and market advice (the Assessing Suitability Review 2).

The review will focus on the advice that consumers receive around retirement income as a greater number of options are now available in retirement planning and it is therefore important that consumers get good advice at the point where they access their pension savings. The review will also involve a representative sample for the FCA to build a view of the retirement income advice market.

The FCA intends to publish a report setting out its findings from the review in 2020.