“But we have also sought views on what more can be done, and whether a nudge could be delivered earlier. We are currently considering those responses.”
She added the FCA believes “that there would be benefit in nudging earlier as well as at the point of transfer.
“While there are some differences in how our and [the] Department for Work and Pensions’ rules operate, the aim is to increase the take up of Pension Wise guidance when consumers wish to access their pension.”
The FCA is also looking into the take up levels of Pension Wise and how these can be improved, as well as overseeing firms’ issuance of ‘wake-up’ packs to people aged 55.