Pension reforms: CII considers exam for frontline provider staff

clock

The Chartered Insurance Institute (CII) is considering launching a qualification for product providers' staff who are likely to deal with at-retirement customers.

It said it hoped the move would provide some consistency over how life companies and other pension providers handle customer queries following the pension reforms introduced earlier this year. Since 6 April, savers aged over 55 with a defined contribution pension have been given unprecedented access to their retirement pots, with tax charges in particular markedly reduced. But, with many consumers having multiple, smaller pensions spread over many providers, there has been some concern over the quality and consistency of information they receive from them. Though the government has...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Advisers revisit processes after FCA's retirement income review

Advisers revisit processes after FCA's retirement income review

Thematic Review of Retirement Income Advice released in March

Jenna Brown
clock 16 September 2024 • 2 min read
Two firms declared in default by FSCS over pensions advice

Two firms declared in default by FSCS over pensions advice

Both Oakwood Financial Management and GO IFA are no longer trading

Isabel Baxter
clock 11 April 2024 • 1 min read
FCA lays out 2024/25 fees/levies proposals; £755m planned spend

FCA lays out 2024/25 fees/levies proposals; £755m planned spend

‘We recognise that firms continue to face inflationary pressures’

Hope Coumbe
clock 09 April 2024 • 4 min read