UK regulator admits adequacy of advice still a concern
By Cristian Angeloni, 10 Jan 19
Number of people investing up but risk of ‘poor value’ services still high
Click through the slides below to see the key concerns flagged up by the Financial Conduct Authority.
Pension positives
- The size of non-workplace pension sales skyrocketed to £74,000 ($94,490, €82,066) in 2017, compared to £58,000 in 2016 – representing the highest level and the biggest year-on-year increase in the last eight years.
- Over half (52%) of people taking advantage of pension freedoms are re-investing their pots in non-pension vehicles like Isas, savings or bank accounts rather than spending it.
- However, gender gap in pensions is still a great cause of concern with women being less satisfied and less likely to engage with pension providers.
