Guidance Guarantee consultation about to close

19 September 2014

Time is running out for responding to the Guidance Guarantee consultation that the Financial Conduct Authority (FCA) is currently undertaking. The Guidance Guarantee will have a major impact on UK retirement savers. So if you are involved with running a pension scheme or liaising with pension savers, you should be aware of this important consultation.

In this year's Budget, the government proposed that all consumers with DC pensions should be entitled to free and impartial guidance at retirement. The FCA will set the standards for this guidance and collect a levy to fund it.

The consultation has 19 specific questions - mainly yes/no - about the standards expected of those delivering the guidance, and how the FCA will collect the levy. However you need to have your say by 22 September.