This conference examines latest developments in regulating the pensions sector to help protect and grow retirement income in the UK.
It will be an early opportunity for key stakeholders and policymakers to assess the new joint strategy for regulating the pensions and retirement income sector published by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
Delegates will discuss the next steps outlined in the strategy for setting and enforcing standards and principles in the pensions market with the aim of allowing greater access to options for retirement saving and increasing participation - as well as the role of regulation in ensuring appropriate investment of funds and value for money for consumers.
We also expect discussion on tackling fraud and addressing concerns over employers failing to meet guidelines, with increased powers for TPR proposed in the Defined Benefit white paper aimed at enhancing enforcement to drive better value for money.
Attendees will also assess what action can be taken to improve both transparency of information and the integration of advice services to ensure that consumers can make well-informed decisions.
It comes as the regulators look ahead to the launch of their further strategic review due early next year, focusing on how to put in place the tools that consumers need to make informed decisions on their retirement planning.
The seminar also takes place as the FCA prepares to respond to their consultation in early 2019 on a series of measures designed to protect consumers - simplifying choice whilst improving the information available and promoting greater competition in the retirement income market - following the publication of its Retirement Outcomes Review.
The agenda also looks at the broader policy landscape and the potential impact of proposed changes to auto-enrolment, including reducing the Lower Earnings Limit to zero, lowering the qualification age to 18, and options for further changes such as the oft-mooted ‘auto escalation’, linking contribution rate rises with pay rises or age to reduce the savings deficit.
Discussion will also follow calls from the Work and Pensions Committee for guidance to be mandatory when seeking to exercise pension freedoms, the possibility of introducing default draw-down options, what future role exists for the annuities market and what more can be done to stimulate innovation and competitiveness in the retirement products market more widely.
Further sessions will focus on the Government’s publication of a feasibility report and consultation on the development and creation of industry-led pensions dashboards to enable consumers to simultaneously review multiple pensions. Delegates will discuss the practicalities of roll-out and how best to structure dashboards so as to deliver on the aims of making engagement with retirement savings easier, and increasing transparency and information available to consumers.