Monday, January 24, 2022

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FCA: Poured £5 million into laptops for hybrid working

FCA: Poured £5 million into laptops for hybrid working

  • FCA is proposing that firms offer a new ‘default’ investment option to help non-workplace pension customers 
  • Currently, non-workplace pension customers have to choose their own investments from an increasingly wide range of options
  • This complexity can make it hard for some customers who do not take advice to choose investments that meet their retirement needs
  • Under thproposals, the default option would need to be an appropriately diversified basket of investments
  • As a customer approaches retirement, their investments changed to lessen the impact of any market downturn on their savings
  • The aim is to ensure pension savers have as big a pension pot as possible at retirement
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