FCA’s new ‘targeted support’ will give pensions savers greater confidence

Leading audit, tax and consulting firm RSM UK says new FCA proposals to allow pensions providers to give ‘targeted support’ which is not classed as financial advice will improve crucial decision making at retirement.  

RSM UK’s head of pensions, Ian Bell said: “This is a welcome move which will help consumers understand whether they need to start saving more into their pension pots, which in many cases they do. More importantly, it will also help them in the decumulation phase, ensuring they make the most of what they have saved to fund a more comfortable retirement. This, combined with the increased availability of information once pensions dashboards are launched, will enable savers to be more confident in their decisions.”