The Financial Conduct Authority was engulfed by a political row when news of a planned review of ‘zombie’ policies caused insurers’ share prices to tumble.
But pension minister Steve Webb supported the review, which will look at old regular savings policies with high exit charges that have trapped millions of savers. The review, which does not yet have a timescale, will cover with-profits, pensions and whole of life policies. Regularly reviewing your investments and ensuring they are aligned with your current and known future needs is an essential part of any good financial planning strategy.