When our regulator, the FCA announced it will be investigating the ‘£400bn private pensions market’ the collective outrage of my fellow advisers said more than I ever could (or would). Here’s a selection of their comments:
‘Right. That’s the next nail in the coffin of pensions in the UK. The regulators, in collusion with the central bankers and state bureaucrats have had a good go at destroying all the other bits of UK private pensions (not their own luxurious taxpayer-funded schemes, obviously) so they might as well finish the job’
‘Perhaps the FCA should finish the work they’re currently doing rather than go off and find themselves a new area to get involved in.
‘They should be focussed on the serious issues, unregulated investments, phoenix firms and other nonsense that’s going on under their noses’.
In the words of a famous (fictional) politician, ‘you may think that, I couldn’t possibly comment’
