PLSA comments on FCA Advice-Guidance Boundary Review

The Pensions and Lifetime Savings Association (PLSA) comments on the FCA’s Advice-Guidance Boundary Review.

Zoe Alexander, Director of Policy and Advocacy at the Pensions and Lifetime Savings Association (PLSA) said: “We’re pleased to see the progress on targeted support. We know savers want support when making decisions about their pensions and have long supported efforts on, for example, Guided Retirement at decumulation. Our members want to do more for savers, but they need clarity on what is possible without breaching FCA rules. We also need regulators to help the trust-based sector – as well as FCA-regulated firms – provide support of this kind to savers. This will help to ensure consistency of experience whichever type of pension they have.

“Too few people take regulated advice and many more can’t afford it; exploring options around targeted support will help FCA-regulated providers give savers what they need when they need it. We look forward to engaging with the detail, and exploring the broader issues raised in the Discussion Paper, including ongoing policy development that will impact saver engagement – such as modellers and tools, and transfers and consolidators.”

Mark Smith, Head of Media Relations
020 7601 1726 | [email protected]

Cali Sullivan, Senior PR Manager
020 7601 1761 | [email protected]