Retirement Outcomes Review - FCA’s stance will safeguard against bad retirement outcomes

Helen Morrissey, pension specialist at Royal London comments on the release of the FCA’s policy statement on the Retirement Outcomes Review.

“Today’s policy statement goes a long way towards helping those customers entering income drawdown without an adviser to still achieve a decent outcome. This is particularly the case when it comes to making sure that no-one is invested primarily in cash unless they have made a specific decision to do so. Offering access to investment pathways will help ensure these customers are invested in assets that better meet their retirement needs. Similarly, presenting charges in a clearer way will also go a long way towards preventing peoples’ hard earned pensions being eroded by high charges over time. In short these recommendations will safeguard non-advised customers against sleepwalking into bad retirement outcomes.”