Insurer Launches Pension 'Pathways' Ahead Of FCA Deadline
Law360, London (November 9, 2020, 4:11 PM GMT) -- Insurer LV has launched a series of investment "pathways" that retirement savers can choose when they want access to their money, ahead of rules laid down by the Financial Conduct Authority that will make the provision compulsory.
The packaged investment plans will help investors seeking to withdraw money from their pension pots in cases where they have not received financial advice, LV said on Sunday.
Mandatory rules that the FCA says will save customers an estimated £25 million ($32.4 million) a year will require pension providers to offer so-called investment pathways to some savers from February next year.
"LV's pathway options...
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