ii comments on FCA proposals to better support pension savers
interactive investor comments on the watchdog's plans that are part of a broader advice guidance boundary review.
12th December 2024 17:07
by Myron Jobson from interactive investor
Commenting, Myron Jobson, Senior Personal Finance Analyst, interactive investor, says: “It’s absolutely right for savers to receive a good level of care and guidance by financial services, including with investments and pensions. The issue is the advice guidance boundary is as clear as mud at present, which is a real blocker for financial services firms seeking to better steer their customers towards better outcomes without straying into the advice territory.
“Get it right and the financial services industry can find simple solutions that break down barriers which get in the way of finding simple, affordable solutions.
“The long-term nature of pensions and sheer inertia among many savers risks people remaining disengaged at crucial points of their savings journey, which could leave them sleepwalking towards an uncomfortable retirement. What we need is simple solutions, with clear pathways that don’t make people feel anxious – solutions that are easy enough that people will actually do it.”
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