The FCA has published Discussion Paper 16/1: Ageing population and financial services, which encourages firms to do more to support the UK’s ageing population and ensure that consumers can access the financial products and services they need at every stage of their life.
In particular, the FCA is seeking views on:
- how older consumers assess their own needs;
- how well do financial products and services meet the needs of older consumers;
- how can firms ensure that their channels of communication adapt to meet the needs of older consumers;
- the role of advice for the ageing population;
- how firms are adapting to the changing needs of its consumers; and
- the kind of borrowing challenges that older consumers face.
The FCA plans on launching an FCA Strategy on the Ageing Population in 2017 which will provide recommendations about how it can improve outcomes for older people, including whether regulatory settings need further review.
The deadline for comments is 15 April 2016.
View FCA on ageing population and financial services, 22 February 2016
