On the go: The Financial Conduct Authority and the Pensions Regulator have launched a joint regulatory strategy to deliver better outcomes for pension savers and those entering retirement.
The strategy identifies four key issues that contribute to the prospect of individuals not having adequate income.
These include access and participation, funding and investments, governance and administration, and consumer understanding and decision-making.
The strategy outlines several ways in which the FCA and the Pensions Regulator will work together. This includes two new priority areas for joint action.
The first is a strategic review of the entire consumer pensions journey, and the second is using regulatory powers to drive value for money for members of pension schemes.
While the watchdogs have already worked together, most recently through their joint campaign to combat savers succumbing to pension scams, the publication of this strategy marks a new stage in the evolution of both regulators, and in their working relationship.
