Regulatory Alerts2018-06-27
Added · Updated
PS19/1: Retirement Outcomes Review: feedback on CP18/17 and our final rules and guidance
The Financial Conduct Authority finalizes rules requiring pension firms to provide 'wake-up' packs at age 50 and every five years thereafter, including a single-page summary and retirement risk warnings, while prohibiting marketing material within these packs. Firms must also include an annuity information prompt and clarify drawdown product costs, with new requirements to invite clients to review their pension choices and consider regulated advice. These changes affect firms providing pensions, annuities, and income drawdown, with the first set of rules coming into force on 1 November 2019 and the remaining changes on 6 April 2020.
More like this from FCA
FCA published 5 documents in the last 30 days. We email you each new one the day it's published.