Wealth management lobby group PIMFA has welcomed the Financial Conduct Authority’s (FCA) proposals to direct disengaged pension savers towards professional support to help them navigate retirement decisions.

The proposals recognise a lack of preparation for, and knowledge about, retirement among a large group of pension savers, PIMFA said.

However, the trade association warned that the proposals do not take account of a number of pension savers and schemes that will be caught by the proposals, despite many of those pension savers being self-directed investors, with a high level of confidence in their investment decisi...