Choices for retirement income products and financial advice
Oxera has published a report for the Financial Services Compensation Scheme (FSCS) to understand the role of FSCS protection both in how consumers choose their retirement income products, and in whether they decide to obtain financial advice. To explore this further, the FSCS commissioned Oxera and the Centre for Experimental Social Sciences (CESS) to conduct a behavioural experiment to better understand consumer decision-making. The experiment enables us to observe what people actually choose in a realistic environment. The results of the experiment provide insight into actual consumer behaviour and the importance of the FSCS in their decision-making.