FCA reviews appropriateness of pension lifestyle strategies
Trustees Agenda posted on 15 June, 2017
The FCA has published the results of a review into whether lifestyle investment strategies are still appropriate following the pension freedoms introduced in 2015.
Commenting on the findings, the FCA said "We were pleased to note that most firms had reviewed the appropriateness of lifestyle strategies for new business and post-2012 auto-enrolment contracts, had created new default funds and lifestyle glidepaths, and had communicated with relevant customers when migration exercises have taken place." However concerns have been raised over companies not planning to review legacy business written before 2001 until late 2017.