FCA tells providers to nudge clients to Pension Wise

Strong nudge will apply to both advised and non-advised savers

clock • 3 min read
Quilter head of retirement policy Jon Greer
Image:

Quilter head of retirement policy Jon Greer

The Financial Conduct Authority (FCA) has announced final rules requiring providers to implement the "stronger nudge" to Pension Wise guidance when customers access their retirement pot.

From 1 June 2022 pension providers will have to give customers - both advised and non-advised - a stronger nudge to Pension Wise when they decide to access their savings. Aegon pensions director Steven...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Risk Reduction

L&G agrees £75m buy-in with Triplex Lloyd scheme

L&G agrees £75m buy-in with Triplex Lloyd scheme

Second deal for two-section scheme sees all members’ benefits now insured

James Phillips
clock 27 January 2022 • 2 min read
Just completes largest ever deal in £345m buy-in

Just completes largest ever deal in £345m buy-in

Deferred-heavy deal completed at the end of 2021 in midst of ‘intense market’ conditions

James Phillips
clock 21 January 2022 • 1 min read
PIC and IMI agree fifth buy-in in £250m deal

PIC and IMI agree fifth buy-in in £250m deal

Around 1,200 members were covered by the deal, with 80% of scheme now insured

James Phillips
clock 21 January 2022 • 2 min read
Trustpilot