Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more


  • Comment
An OFT inquiry into the personal pensions industry has been launched by John Bridgeman, director general of fair tr...
An OFT inquiry into the personal pensions industry has been launched by John Bridgeman, director general of fair trading.

The inquiry will investigate consumers' experiences in buying pensions, the effect of their choices on pension entitlement and the potential for detriment. The final report, scheduled for publication in the first half of 1997, will cover:

an analysis of actual or potential detriment to consumers in general and particular groups such as women who have taken career breaks

an indication of how such detriment can be addressed and avoided in the future

any necessary recommendations to ministers, SIB, SROs, the industry and consumers on how such detriments could be minimised

international pensions industry comparisons.

John Bridgeman said: 'At a time when consumers are having to become more proactive in the way they provide for their retirement there is also increasing unease about pensions products and the selling methods employed by the industry.

'People are now more worried about living too long to provide a comfortable retirement than they are about dying early.

'Our research will cover consumer experience and the structure and regulation of the industry to see what lessons can be learned from the past and what changes can be made to improve consumer confidence and reduce the potential for consumer detriment.'

Additionally the final report will cover international pension industry models and the methods used to foster public confidence in the industry. Views will also be sought from industry, SIB, consumer groups and other government and self regulatory organisations (SROs).

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.