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Consumers hurt by bad pension advice should receive compensation, UK financial watchdog says

By Fiona Maxwell ( August 2, 2022, 10:51 GMT | Insight) -- Consumers given poor pension advice resulting in them transferring to unsuitable products should receive compensation that would put them in the position they'd be in had the advice been suitable, the UK financial regulator said today. The FCA said it would make no major changes to its methodology for calculating this redress, but that it would make some improvements.Consumers given poor pension advice resulting in them transferring to unsuitable products should receive redress that would put them in the position they'd be in had the advice been suitable, the UK’s Financial Conduct Authority said today....

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