The Society of Pension Professionals (SPP) responds to the FCA’s consultation on improving decision-making support in pensions and investments, focusing on targeted support for consumers. The SPP acknowledges the benefits while suggesting improvements, including using “better position” instead of “better outcome” and addressing concerns about pension fund consolidation exclusion.

SPP raises objections to the exclusion of pension fund consolidation from targeted support, highlighting its importance in achieving better outcomes. The SPP urges the FCA to differentiate between existing firms adding targeted support and new firms seeking authorization. SPP emphasizes collaboration with the FCA to enhance the effectiveness of targeted support for consumers.

Amanda Cooke, SPP Financial Services Regulation Committee chair, expresses support for targeted support and emphasizes the need for improvements to benefit consumers. The SPP looks forward to working with the FCA to enhance targeted support initiatives for the best consumer outcomes.

Read more at Yahoo Finance: SPP offers feedback on FCA’s new consumer support strategy