Financial advisers need to take a closer look at the suitability of their investment approach for clients taking an income, according to platform Wealthtime.
Four in ten decumulation products bought in 2021 were purchased without professional advice, according to product sales data from the Financial Conduct Authority.
The Department for Work and Pensions (DWP) has called for views on decumulation and helping savers understand their pension choices.
Complaints about regulated firms topped 6m in the second half of 2019, according to data published by the FCA today.
FCA data showed an increase in the number of complaints about regulated firms, with more than four million complaints during the first half of 2018.
Royal London’s Steve Webb says the Government was right to resist calls for default decumulation retirement pathways.
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