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A Financial Conduct Authority (FCA) investigation has warned that pension providers may need to change to avoid breaching competition law

17 March 2016

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In the FCA's "Retirement Income Study", it said it had put several pension providers "on notice" for potential infringements of competition law. Instances of pension provider distribution agreements had given rise to serious concerns about competition compliance protocol.

It said: "While we did not have competition concerns with the majority of the arrangements we looked at, there were some specific ones that we wanted to understand better."

The FCA contacted the firms and reviewed a number of distribution agreements and minutes of meetings related to the performance of those agreements.

The FCA said: "We would encourage other firms to review their distribution and marketing arrangements to ensure that they comply with competition law."

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