Member

Finally, Clause 57 raises the critical issue of alignment between regulators. It is essential that the Department for Work and Pensions, TPR and the Financial Conduct Authority are closely aligned in their approach to guided retirement. Without such alignment, trust-based and contract-based schemes could be subject to different expectations; savers could experience inconsistent outcomes depending on scheme type; and competitive distortions could arise between regulatory regimes. What assurance can the Minister give that standards, timing and supervisory approaches will be co-ordinated in practice, rather than merely in principle?