Consumer Duty

Consumer Duty is a critical part of the FCA’s ongoing commitment to strengthening consumer protection in the financial services sector. At its core is the new Consumer Duty Principle (Principle 12), which states clearly that: “A firm must act to deliver good outcomes for retail clients”. The principle sets out specific expectations, rules, and guidance to ensure financial firms consistently prioritise the best interests of their customers.

Consumer Duty establishes a high-level expectation of firms to focus on four key consumer outcomes, designed to ensure that customers’ best interests are placed at the forefront of every action and decision.

Consumer Duty Outcome	Our objectives
Products and Services	Our products and services are carefully designed to meet the needs of our customers and are distributed appropriately.
Price and Value	We are committed to providing our customers with products and services that deliver fair value.
Consumer Understanding	We empower customers with clear, transparent, and easily understandable information, enabling informed decisions about their financial products and services.
Consumer Support	We provide ongoing support tailored to meet our customers’ evolving needs throughout their relationship with our firm.

The four outcomes are underpinned by essential FCA cross-cutting rules, which we adhere to at all times:

Act in good faith
Avoid foreseeable harm to retail clients.
Enable and support retail clients to pursue their financial objectives

Our approach to Consumer Duty

At Pathlines Pensions UK Limited, as a leading provider of self-invested pensions, we embrace the principles of Consumer Duty. These principles align with our values and unwavering commitment to prioritising our customers’ needs, enabling us to deliver positive outcomes. Our ongoing assessments of regulatory requirements under the Consumer Duty drive continuous improvement across governance, operational frameworks and strategic initiatives.

By evaluating our product offerings and their alignment with customer requirements and target markets, we uphold high standards of fairness and transparency.

We foster a culture that prioritises excellent customer service, ensuring clarity and understanding of our products. This safeguards our customers, allowing them to understand their chosen product and thereby mitigating potential consumer harm.

Useful information for distributors

This section provides essential resources to assist our distributors in complying with Consumer Duty. This information helps distributors understand our products, target markets, and evaluate their distribution processes effectively.