In CP12/29 we consulted on draft rules to move to inflation-adjusted illustrations for personal pensions and also new guidance for the preparation of product information. This Policy Statement (PS) provides feedback on the responses we received and explains some minor changes we have made to the rules we consulted on.
Who is this PS aimed at?
This PS will interest life insurers and other providers of personal pensions, and firms that advise on personal pensions.
Our new rules will also be of interest to consumers, as providing point-of-sale illustrations which take account of the effect of inflation will help them to plan more effectively for their retirement.
Policy Statement
- FSA PS13/2[1] Final rules for inflation-adjusted illustrations for personal pensions and new guidance on preparing product information
What are the next steps?
The new rules and guidance will come into force on 6 April 2014. Our rules allow firms to comply with the amendments as if they were in force from 6 April 2013 if they want to.
Want to find out more?
- look at the FCA Handbook[2].