FCA Urged To Crack Whip Over Pensions Advice Uptake

Law360, London (February 17, 2021, 12:46 PM GMT) -- The financial watchdog should introduce tougher measures to boost the number of people in Britain who use a government service providing guidance on retirement savings, a pension company has said.

Pensions provider Just Group said on Tuesday that the Financial Conduct Authority should automatically book people approaching retirement into the government's Pension Wise service, rather than leaving them to arrange their own appointments.

The call comes amid mounting concern over the low uptake of the service, which provides impartial guidance to people approaching retirement age. According to figures from the Money and Pensions Service, a body set up by the government, just...

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