Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will discuss with the Financial Conduct Authority ways of ensuring that people with personal pensions becoming payable from April 2015 are aware of the potential drawbacks as well as advantages of transferring their pensions.
Under the Financial Conduct Authority’s (FCA) consumer protection remit, it has already responsibility for ensuring that regulated firms treat their customers fairly and communicate in a way that is clear, fair, and not misleading. The FCA also has powers to take action against firms which engage in unauthorised business.