The Financial Conduct Authority (FCA) wants to introduce investment "pathways" for drawdown retirees to make sure people are obtaining value for money.
The regulator's Retirement Outcomes Review, released this morning, found 60% of non-advised consumers in drawdown were unsure where their money was invested. It also found one-third of consumers were wholly invested in cash with about half of these "likely to be losing out on income in retirement". The FCA has today launched a consultation on how to address the problem and suggested investment pathways for customers at the point of entering drawdown could help. The consultation will run for six weeks, with a second paper planned for January 2019, and the final rules published in July ...
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