Call for regulation of DC pensions to be combined into single regime

Concerns current FCA/TPR set up creates inconsistent consumer journey

Hope William-Smith
clock • 2 min read

The separate regulatory regimes for governing defined contribution (DC) pensions should be amalgamated to mitigate against the risk of inconsistent consumer journeys, The Investing and Saving Alliance (TISA) says.

The alliance has today (29 September) called for the alignment of regimes to reduce consumer confusion and reiterate the Financial Conduct Authority (FCA) and The Pensions Regulator's (TPR) shared consumer objectives. "The advent of auto-enrolment means we now have millions of DC savers spanning across two different regulatory regimes," said TISA head of retirement Renny Biggins. "Consumers will typically not be aware of what type of pension they are in, however, they all are exposed to the same risks and require the same levels of protection and opportunities irrespective of the regulat...

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