Regulatory Alerts2018-02-01
Added · Updated
FS19/5: Effective competition in non-workplace pensions
The Financial Conduct Authority identifies weak competition in the non-workplace pensions market, characterized by low consumer engagement, complex charges, and high price variance. The document outlines potential remedies including requiring providers to offer investment pathways, improving charge transparency through clearer information and standardized categories, and mandating the reporting of standardized charges data to an independent body for public scrutiny. These measures aim to address the finding that consumers often pay significantly different amounts for comparable products due to a lack of competitive pressure.
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