Pensions - Articles - FCA urged to go further on pension dashboards


The Society of Pension Professionals (SPP) has today responded to the ongoing FCA consultation on the regulatory framework for pensions dashboard service firms.

 The FCA has been consulting on new guidance for firms undertaking this new activity, with their consultation set to close on Wednesday (8 May 2024).
 
 The SPP consultation response, which can be read in full here, makes clear that the FCA needs to take the dashboard project further, stating that dashboards must “…have the ability to fully support consumers in their decision making to enable them to achieve better outcomes. Therefore, the choices proposed must be expanded at the outset, or be expanded within a relatively short period of time, to ensure that this is achievable.”
 
 Jasmine Smiley, Chair, SPP Financial Services Regulation Committee, said; “Those who use the dashboards will quickly become frustrated if they are presented with lots of information but are provided with little to aid their decision-making beyond the permitted (and incredibly limited) signposting contained within the FCA’s proposals. The provision of information with very limited support is highly unlikely to incentivise users to return.”
  

Back to Index


Similar News to this Story

TPRs oversight of largest DC schemes is evolving
Master trusts, some of the UK’s biggest defined contribution (DC) schemes, will be supervised differently to identify market and saver risks sooner an
Pension disengagement may cost you GBP500k in retirement
Failing to actively engage with pensions during one’s working life could have a staggering financial impact, according to a new report from PensionBee
Ongoing confusion over IHT proposals and pension priorities
Sacker & Partners LLP (Sackers), the UK’s leading specialist law firm for pensions and retirement savings, today announced the results of their most r

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.