FCA Plans 'Default' Fund To Simplify Non-Workplace Pensions

By Lucia Osborne-Crowley (November 25, 2021, 3:30 PM GMT) -- The finance watchdog proposed new rules on Thursday that would give Britons with pensions outside the workplace a default investment plan for their retirement savings as it seeks to ensure that consumers who do not have access to financial advice are getting the most out of their investments.

The Financial Conduct Authority is proposing a set of regulations that would force providers of private pensions to offer their customers a default investment portfolio that would ensure their retirement savings are invested safely and in a way that meets their needs. 

"People spend decades working hard to build up a pension to support them in retirement, and...

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