Providers have to follow the new workplace pension rules, but they also have to consider them through the consumer duty lens.
That might mean testing communications, and it certainly means being clear on who exactly the default investment option has been designed for, that it is competitively priced, and that it is reviewed regularly.
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It is the provider’s responsibility to make sure it is, and continues to be, appropriate.
Rachel Vahey is head of policy development at AJ Bell
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