Industry responds to FCA interim report
Trustees Agenda posted on 13 July, 2017
The pensions industry has responded to the publication of the FCA's interim findings in its Retirement Outcomes Review.
The TUC said it provided a "damning verdict" on the pension freedoms introduced two years ago. TUC General Secretary, Frances O'Grady, said "The Government needs to learn from the successful roll-out of auto enrolment. Ministers must ensure all savers are offered a decent option by default."
The PLSA claimed the review made for "disturbing reading." Tim Gosling, PLSA DC Policy Lead, said: "Without timely action now, those retiring in the near future who are dependant on defined contribution pots will not receive the retirement they hope for."