In response to the FCA's proposals for Targeted Support, Helen Forrest Hall, Chief Strategy Officer at the PMI, said:

"The PMI welcomes the FCA's plans to let authorised firms offer people more personalised help with their finances—without straying into full-on regulated advice. As pensions get more complicated and responsibility keeps shifting to individuals, giving people the right support at the right time just makes sense.

"That said, it’s got to be done right. This new approach needs clear rules, strong consumer protections and a shared sense of where the limits lie, so people can trust the help they’re getting.

"We are encouraged by the FCA’s recognition that Targeted Support needs to integrate with other works in progress, such as the guided retirement proposals in the Pension Schemes Bill. It’s critical that these regimes do not conflict with each other since without better alignment across regulators, there’s a real risk of confusion for savers and missed opportunities for stronger outcomes.”