S2P investigation finds no proof of widespread mis-selling

The FSA has found no evidence of widespread mis-selling after an investigation into contracting out ...

The FSA has found no evidence of widespread mis-selling after an investigation into contracting out of the state second pension. Its investigation found around 120,000 policies out of the 8m appropriate personal pensions sold since 1998 were to consumers above the industry-set pivotal ages of around 61 for men and 55 for women. Beyond these pivotal ages, it is considered particularly risky to contract out. The regulator said it is possible policies sold beyond the pivotal ages were based on faulty advice but there are also certain circumstances where it may be appropriate. For example, ...