13 February 2025
The FCA’s ongoing Advice Guidance Boundary Review (AGBR) aims to help people access the support they need as they save for their retirement. To support the FCA in this work, the PLSA has submitted a response to FCA consultation paper (CP) 24/27 on its proposed reforms for targeted support. In our response, we stress that the FCA should work closely with TPR to ensure this form of support can also extend to savers within trust-based schemes.
The PLSA previously expressed our support for more widely available help to savers in our February 2024 response to FCA discussion paper (DP) 23/5. We also called for greater clarity on the advice guidance boundary, both in our response to the DWP's July 2021 consultation and in our resource for employers, which includes background information and case studies on what is currently possible within the boundary.
The PLSA will continue to engage the FCA in its AGBR, including any future recommendations related to simplified advice or additional clarifications on the advice guidance boundary.