30 July 2019

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

2 min read

 
Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Corporate PR Specialist – Long Term Savings

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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.”

Notes to Editors

The final policy statement can be found here:

https://www.fca.org.uk/publication/policy/ps19-21.pdf

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £130 billion, 8.8 million policies in force and 4,046 employees. Figures quoted are as at June 2019.