The FCA has selected former Association of British Insurers director of conduct regulation Maggie Craig to head up its work on the at-retirement guidance service announced in the Budget.
Money Marketing revealed in January Craig had joined the FCA as an adviser, after leaving the ABI in October.
In last month’s Budget, Chancellor George Osborne stunned the pensions industry when he announced people would be able to take their entire pension pot as cash from age 55 from next April.
Alongside the reforms, Osborne said members of defined contribution schemes “will be offered free, impartial, face-to-face advice” at retirement from April 2015.
A consultation document published alongside the Budget confirms the service will provide guidance, not advice.
It says the FCA will be tasked with developing a set of standards for the guidance to ensure it is impartial and of high quality.
Earlier this week the Treasury select committee quizzed the regulator on the potential confusion for consumers between guidance and advice.
A spokesman for the FCA confirmed Craig is to lead the project.