The array of drawdown charges currently levied on clients is under increased FCA scrutiny post-pension freedom, writes Natanje Holt. Providers will have to make a strong case to keep them all...
Since Pension Freedom Day on 6 April 2015, the government and Financial Conduct Authority (FCA) have been monitoring the retirement market with increasing intensity. They want to flush out and stamp on any undesirable, unintended consequences of this seismic change in the at-retirement market. Up until recently much of the attention has focused on the volume of over 55s cashing out completely and levels of access to advice (or guidance). In the last week, there has been a detectable switch of focus to the new decumulation option of choice - income drawdown. The FCA's desire to k...
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