Comment and Blogs
Recent developments in the Brexit saga and an inevitable snap general election led the Government to put the Sajid Javid’s Autumn Budget on hold last week to focus on getting Brexit done.
You may be forgiven for thinking regulations in respect of workplace pensions has little to do with SIPPs, yet recent proposals from the FCA could catch many thousands of SIPPs in the workplace net.
An independent pension commission is something for which we at AJ Bell have long campaigned.
Before you think you are reading an old article, I am of course referring to the start of the new tax year.
On 1 November we will see the first big changes come into force as a direct result of the Retirement Outcomes Review (ROR) – the FCA’s big piece of work on the post-pension freedoms world. Although the ROR focuses primarily on non-advised clients there are knock-on effects that will be felt by all clients, and their advisers too.
The Financial Conduct Authority (FCA) is concerned about how pension freedoms are impacting consumers and quite rightly so, especially with regards to those accessing their retirement savings and not taking advice, putting them at risk of running out of money, or worse, being scammed.