MP links FSCS levy spike to pensions freedom rapid roll out

The Work and Pensions Committee chairman said the sweeping retirement policy - which saw millions of people given access to their pension pots at 55 and the removal of the need to buy an annuity at retirement - was rolled out quickly, which he was concerned about at the time. Speaking at a Fabian Society event yesterday (23 February), Timms added pressure on the FSCS had increased "significantly" since the freedoms were introduced in 2015 and that increasing levy demands were "not a coincidence". Timms said: "I was also one of those who were worried by the pension freedoms when they w...