FCA makes pensions “stronger nudge” rules

FCA has made final rules that will require firms to give customers a “stronger nudge” towards Pension Wise when they decide to access their savings. The rules will take effect from 1 June 2022 and will require firms to explain what Pension Wise guidance is, refer customers to it and offer to book appointments or provide information to help customers do so. The new rules apply to providers of personal and stakeholder schemes and SIPP providers.

Emma Radmore