FCA: Providers should disclose how annuity quotes compare with peers'

clock • 2 min read

The FCA has proposed a 'Pensions Dashboard', and said product providers should be obliged to reveal how their annuity quotes compare with competitors' following its study of the retirement income market.

The FCA said this morning in its retirement market income study that it is proposing to "require firms to make it clear to consumers how their quote compares relative to other providers operating on the open market". The regulator said the information could be provided using the Money Advice Service's own comparison website to generate a variety of relevant quotes. It has also proposed a ‘Pensions Dashboard' that would allow consumers to view all their lifetime pension savings in one place in its long-awaited review. Additionally, it is proposing the introduction of what it called ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Retirement Income

For the sake of future generations pensions must be invested correctly

For the sake of future generations pensions must be invested correctly

Important wealth managers and financial advisers talk to clients

Steven Levin
clock 27 January 2022 • 4 min read

Partner Insight: Have you reassessed your clients' risk appetite well enough in 2021?

Canada Life’s retirement solutions director, Nick Flynn, on the opportunity to reassess the solutions on offer to clients today

Hardeep Tawakley
clock 21 July 2021 • 2 min read

Partner Insight: How are low interest rates impacting homeowners, savers and retirees?

If last year, the biggest concern was rising interest rates, today interest rates are at their lowest level in history and the government is doing all it can to get the UK economy through the crisis. This means the outlook for inflation and interest rates has changed drastically from this time last year.

Sponsored by Architas
clock 27 October 2020 • 2 min read
Trustpilot