Reacting to the FCA’s latest Policy Statement on the Retirement Outcomes Review, Rob Yuille, Head of Retirement Policy at the Association of British Insurers said:
“It’s crucial that the many thousands of people entering drawdown each year are able to do so with appropriate levels of support and information. We agree with the FCA’s recommendation to introduce investment pathways. Improving the frequency and content of retirement communications is a pragmatic, logical next step.
“Increasing information about fees and charges is something the industry has been working on for some time and we support the FCA’s proposals. In future, levels of transparency will increase even further thanks to the work we have been leading on the creation of pensions dashboards and a drawdown comparison tool.”