Is the corporate pensions clock ticking as the Retail Distribution Review brings Group Pensions into its sights?
Steve Folkard, Head of Pensions & Savings, AXA Life December 2008 This information is directed at professional financial advisers only. It should not be distributed to, or relied upon, by retail customers. The Retail Distribution Review has been toying at the edges of the ‘retail’ group pensions market for some time now. I think it is fair to say that the FSA couldn’t be entirely at ease with a review of disclosure, remuneration and transparency of service provision for the consumer in mainstream investment and pension markets which didn’t at least investigate the application of some key principles in the retail group pensions market. When I say retail market, I am specifically referring to contract based group personal pension and stakeholder schemes, where the contract exists between the provider and the policyholder. Group occupational schemes can also be regarded as retail but as the contractual relationship is with the trustees on behalf of the sponsoring employer this is an area
