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ABI responds to FCA paper proposing changes

The ABI has responded to the FCA consultation paper published today on proposed changes to retirement rules and guidance following the pension reforms.

Dr Yvonne Braun, ABI Director of Long Term Savings Policy comments:

Yvonne Braun"Following the biggest changes to private pensions for a generation, the retirement income market has adapted well but we must ensure that customers are protected and can get the best outcome for their retirement. We are pleased that the FCA is proposing rule changes to suit the new environment, and bring in additional clarity which the ABI has called for.

"A more fundamental look at retirement communications is needed, taking into account the important work the FCA is doing in general on customer communications and disclosure. Providers are keen to continue improving the way they communicate with customers to help them understand the options available to them."

Last updated 01/07/2016