Pension illustrations: The double-edged sword of tight regulation

'I am a firm believer the Consumer Duty outcomes are a positive'

clock • 7 min read

Paul Muir explains why tight pension illustration regulation risks standing in the way of Consumer Duty compliance obligations...

I recently asked one of my colleagues to provide a summary of the key Conduct of Business Sourcebook (COBS) rules which dictate what goes into a pensions key features illustration (KFI). Back came a list of 16 major rules which we must abide by when producing pensions illustrations for our clients in 2024. There are, in reality, even more than that. That's a lot of rules which determine exactly what we must put in these illustrations. They mandate how our customers present projections to consumers and how those projections are calculated. Many are frankly a turn-off for people reading...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Finfluencer trials delayed until 2027 due to court backlog

Finfluencer trials delayed until 2027 due to court backlog

Nikhil Rathi gave the update to aTreasury Committee hearing

Sorin Dojan
clock 10 June 2025 • 2 min read
Sustainability and market abuse concerns raised as FCA rings bell on PISCES launch

Sustainability and market abuse concerns raised as FCA rings bell on PISCES launch

PISCES regulatory regime now live

Linus Uhlig
clock 10 June 2025 • 3 min read
Northumberland firm declared failed by FSCS over pensions advice

Northumberland firm declared failed by FSCS over pensions advice

PCM Asset Management lost FCA authorisation in 2019

Sahar Nazir
clock 05 June 2025 • 1 min read