Bringing you live news and features since 2006 

APFA calls for assurance of fair funding model for new pensions guidance body

RELATED TOPICS​

The Association of Professional Financial Advisers (APFA) has published its response to HM Treasury’s Public Financial Guidance Review consultation.

APFA welcomes the government’s plan to restructure the delivery of public financial guidance and sees the creation of a new pensions’ guidance body, incorporating functions currently provided by TPAS, Pension Wise and MAS, as a step in the right direction.
 
However, APFA believes it essential that government provides assurance that there will be costs savings in the running of the new body and that all those that supported the previous bodies continue to provide funding for the new body. The burden should not fall solely on FCA regulated entities.

Chris Hannant, Director General of APFA, says: ‘We welcome the creation of this new pensions’ body, as having all pension information from a single source will bring clarity and consistency for consumers and also generate efficiencies and cost-effectiveness. There was a need to streamline delivery that was becoming confused.  The revised remit for MAS should remove duplication and bring greater focus on value for money in delivery.

‘However, we lack clarity on funding. Part of the government’s rationale was to make cost savings and we would like assurances that the new set-up will lead to future reductions in the cost of public financial guidance. The funding model for the new pension body must be fair with contributions from all those that are likely to benefit – this should include those that are not regulated by the FCA.’
 

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by