FCA

Citizens Advice has welcomed news that the Treasury will legislate to cap pension early exit charges levied on savers using pension freedoms.

Amid concern that the cap on exit fees only applies to contract-based schemes, the minister has confirmed that a separate cap will be imposed on trust-based schemes.

The Treasury will legislate to cap excessive early exit charges levied on savers using pension freedom, it has confirmed.

Trustees of defined benefit (DB) schemes are failing to challenge their consultants on investment advice, according to research by SEI and IFF Research.

This week the FCA admitted a blunder on cash-out figures, TPR won a landmark AE case in the High Court, while a ground-breaking case could help trustees override drafting mistakes.

The Financial Conduct Authority (FCA) has admitted it made a mistake when calculating how many people had fully cashed out their pensions to take advantage of the April freedoms.

Almost half of those opting for income drawdown in retirement have done so without seeking advice, new data from the Financial Conduct Authority (FCA) has shown.

Just one in three people accessing their pension pots last summer used them to provide some kind of retirement income, according to figures from the Financial Conduct Authority.

TVA is wrong approach post-pension freedom

2015 was another busy year for the pensions industry. Here's our run down of the key stories.