Simpler retirement ‘wake-up packs’ are not encouraging pension savers to take up free guidance, according to the Financial Conduct Authority (FCA).
Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports
Pensions wake-up packs must be reformed by November this year to comprise a single-page summary document, the Financial Conduct Authority (FCA) has said.
Respondents in last week's Pensions Buzz said such pathways would help guide members and improve retirement outcomes.