Pensions - Articles - MGM advantage say FCA review doesn't go far enough

 Andrew Tully, Pensions Technical Director, MGM Advantage commented: ‘The FCA review doesn’t go far enough, or act quickly enough. This will potentially leave many thousands of retirees high and dry when navigating the annuity minefield.

 ‘So often we see poor consumer outcomes through a lack of awareness or understanding of the options available. Although the review puts the spotlight firmly on the issues that need to be addressed, another year or two of customers sleepwalking into retirement is simply not good enough.

 ‘There are some simple and practical steps we can take now to help those people looking to take benefits from their pensions. This could be done in tandem with the competition market study which will take some time.’