Pensions - Articles - PIMFA welcomes enhancements to consumer protection


PIMFA welcomes enhancements to consumer protection laid out in new Work and Pensions Committee Report on pension savers and scams

 PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, welcomes the enhancements to consumer protection laid out in the new Work and Pensions Committee Report 'Protecting pension savers - five years on from the pension freedoms: Pension scams'.

 Liz Field, PIMFA's CEO commented: “‘In order to ensure that savers can transact safely and with confidence with their hard-earned pension savings, we are pleased that the Committee have supported our recommendation that the government should include financial harm within the Online Safety Bill.

 "Savers cannot continue to be liable to lose their life savings because of what amounts to regulatory shades of grey and the government must act to both empower the Regulator, as well as place a duty of care on tech providers to undertake proper due diligence on adverts and remove harmful ads where appropriate.

 "This, in partnership with the government’s forthcoming policy on financial promotions will be a welcome step in enhancing consumer protections, increasing confidence as well as reducing individual claims on the Financial Ombudsman Service and Compensation Scheme.”
  

Back to Index


Similar News to this Story

Lack retirement confidence as cost of living bites
New research from PensionBee reveals that September is a pinch point for household budgets, with rising bills leading many to reconsider their long-te
Professional trustee market matures but growth slows
LCP’s latest and fifth annual survey on the Professional Trustee and Sole Trustee market – LCP Sole Mates highlights that while growth has slowed in t
Charities see improving DB pensions funding in 2025
The combined reserves of the largest 40 charities in England & Wales that sponsor DB pensions schemes now sits at £49bn in 2025, according to Hymans R

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.