Consumers being badly advised on pensions, says regulator

FCA warns some transfer decisions mean greater risk of financial insecurity in old ageThe City watchdog has raised fresh concerns that thousands of consumers are being wrongly advised to cash in their defined benefit pension, putting them at greater risk of financial insecurity in old age.The Financial Conduct Authority said the advice was handed out despite being unsuitable for most people who opt to take a lump sum by transferring to poorer-value stock market-linked schemes at the expense of a