Pensions - Articles - Aegon comment on FCA announcement

 Aegon comments following the Financial Conduct Authority’s announcement regarding their Market Study into Retirement Income.

 With the huge interest in the annuity market right now, it’s not at all surprising that the FCA has decided to follow up its thematic review with a market study. It’s also right for the FCA to look at the wider picture and the range of retirement options customers have. We particularly welcome the forward-looking aspect of the study, looking at changing consumer needs and future engagement opportunities.

 Steven Cameron, Regulatory Strategy Director, Aegon UK said “Aegon’s ambition is to get the UK ready for retirement, so we welcome today’s report on annuities from the Financial Conduct Authority (FCA).

 “We want savers to be well rewarded for taking a positive approach to retirement planning, and this means the whole industry needs to do all it can to help people understand their financial options around their pension savings.

 “With the huge interest in the annuity market right now, it’s not at all surprising that the FCA has decided to follow up its thematic review with a market study. It’s also right for the FCA to look at the wider picture and the range of retirement options customers have. Aegon particularly welcomes the forward-looking aspect of the study, looking at changing consumer needs and future engagement opportunities.

 “The study is an opportunity to bring balance and fact-based analysis to the debate, cutting through some of the myths, and identifying both weaknesses and strengths in the various forms of retirement solution.

 “Aegon looks forward to participating in this study and working with the FCA to help consumers make the most of their retirement.”