UK. Personal pension providers told to warn of inflation risks
Personal pension providers are to be required to send inflation warnings to customers holding large amounts of cash in their funds, under new proposals unveiled by the regulator.
In a move aimed at the fast-growing personal pensions market, the Financial Conduct Authority (FCA) is forcing providers to do more to help unadvised customers make better investment decisions.
About 125,000 people who do not have the help of an adviser are opening non-workplace pensions every year. These schemes mainly comprise personal pensions and self-invested personal pensions.
They are often used by self-employed people without access to a workplace pension, as well as by consumers wanting to supplement their workplace pension savings or consolidate existing pension pots.
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