We have overseen the review of two different types of pension product – personal pensions and Free-Standing Additional Voluntary Contributions.

Personal Pensions

Many people lost out because they were badly advised between 1988 and 1994 to leave, or not join, their employer's pension scheme.

Because of this, we set up a review of past pension advice and told those financial services firms that gave advice on personal pensions between 1988 and 1994, to check their sales. If people had lost out because of bad advice, the firms had to put matters right.

Free Standing AVCs (FSAVCs)

We also set up a smaller review of certain Free-Standing Additional Voluntary Contributions (FSAVCs). These are pension top-up policies to boost your income during retirement.

Some people were badly advised to take out an FSAVC when they would have been better off joining their in-house AVC scheme.

Please see our frequently asked questions for more information.