“Further analysis” is needed before the pensions dashboards standards can be settled, according to the Pensions and Lifetime Savings Association (PLSA).
The Pensions Administration Standards Association’s (PASA) pensions dashboards working group has published an updated batch of data matching convention (DMC) guidance.
Consumer Duty rules are likely to be tricky for a Sipp provider business that has large numbers of disparate contracts with differing charging structures and no clear differentiation between them, and which has numerous IT administration systems on which to try to manage them.
The biggest challenges for the industry include keeping up with the high volume of regulation, and data issues stemming from projects such as GMP equalisation, PP finds.