Branch2 Intelligence
Pension firms must do more for customers in older pensions and fund savings
Key takeaway
FCA review finds legacy pensions may offer poorer value than newer products.
- Step 11st-order: FCA review finds legacy pensions offer poorer value than newer products.
- Step 22nd-order: Providers face regulatory pressure to improve value, potentially reducing fees or enhancing benefits on legacy books.
- Step 33rd-order: Margin compression on legacy books may accelerate industry consolidation and shift market share to lower-cost providers.
Source: FCA News
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