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BRIEF-UK markets watchdog flags advice, competition concerns in retirement income market
July 12, 2017 / 6:19 AM / a month ago

BRIEF-UK markets watchdog flags advice, competition concerns in retirement income market

July 12 (Reuters) -

* FCA publishes interim findings of study into retirement income market​.

* Has identified areas where early intervention may be needed either now or further down track to put market on best footing for future.​

* Identified a range of possible measures to address some of the emerging issues including ‍improving competition in non-advised drawdown​.

* Will gather evidence on whether consumers pay high charges and have ended up with unsuitable investment strategies​.

* Aims to publish a final report in first half of 2018​.

* To gather further evidence on consumer outcomes to assess whether additional protections should be put in place for consumers who buy pension drawdown products.

* To gather evidence on whether consumers pay high charges and have ended up with unsuitable investment strategies.

* To consider proposals to make it easier to compare and shop around for drawdown products. Source text for Eikon: Further company coverage: [ ] (Reporting By Simon Jessop)

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