In focus

Consultation Paper: Capping early exit pension charges

In January 2016 the Chancellor announced legislation to place a new duty on the FCA to cap early exit charges in certain pension contracts. This Consultation Paper sets out our proposals on the application and level of a cap – and the changes to our Handbook rules – that we believe are required to discharge the duty being placed upon us.

Consultation Paper: Secondary annuity market

In March 2015 the government announced that it was consulting on extending new pension freedoms to those who already had an annuity in payment. This Consultation Paper seeks views on our proposed new rules and guidance for the secondary annuity market, due to start in April 2017.

Retirement income market data

This supplement provides market data on retirement income from October to December 2015.

Our research and reviews

Review of annuity sales practices: TR16/7

This review assesses how firms provided information to customers, on a non-advised basis, about shopping around for enhanced annuities.

Retirement outcomes review: terms of reference

This review assesses the impact of pension reforms on competition in the retirement income market by looking at how firms and consumers have responded to the new freedoms.

Signposting to pensions guidance: our findings

Since April 2015, consumers have had greater choice around how they access their Defined Contribution pension savings. Our findings highlight the importance of consumers understanding the consequences of the decisions they make.

Annuity comparator: our research

Find out more about our research into the implementation and effects of the proposed ‘annuity comparator’.

Latest news for pension providers

CP16/22: Pension Wise standards: changes for secondary annuity market guidance

We are consulting on proposed changes to the standards applied to Pension Wise designated guidance providers.

FCA statement on redress methodology for pension transfers

From autumn 2016, we intend to consult on updating the methodology used to calculate the levels of redress due in cases of unsuitable advice on transfers from defined benefit occupational pension schemes to personal pensions.

Update on our work around pensions and retirement income

Pensions and retirement income is a priority sector for us. Read more about our policy work and market monitoring in this area.