Minimum Pension Age Regulatory Change in ATEB Suitability

Following the release of a consultation paper on 10th February 2021 by HM Treasury, we have now added a ‘Proposed changes to Normal Minimum Pension Age (NMPA)’ section within the ‘Retirement Advice’ page of the main Suitability Report template.

This includes a standard text option, pre-ticked for inclusion in all retirement advice reports, informing clients that the NMPA will increase from 55 to 57 on 6 April 2028, and that this new NMPA will potentially apply to all new pension plans started or transferred after 10 February 2021.

For more information on the NMPA consultation please see the following article written by our sister firm ATEB Compliance:

More goodies

In addition to the change above we have also amended the following Content Management options within the system:

  • Following the purchase of Zurich’s retail platform and multi-asset fund business by Embark, the ‘Zurich Platform’ has now been replaced by ‘Advance by Embark’ and the current Zurich Multi-Asset fund range has been reassigned to new Provider ‘Horizon by Embark’.
  • We have updated the names of a number of funds to remove duplication of provider/platform names within recommendations.
  • Following EValue’s rebrand to EV, we have updated their risk profile descriptions and name within the Content Integrations page.

Please don’t forget we have a collection of ‘how to’ guides, articles and hints/tips via our FAQs which are available on our Help & Support Portal.

Our support team are available 9am – 5pm / Mon – Fri to answer any further questions you may have / 0191 338 8177.

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

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About the Author

Doug has over 14 years experience in the financial services industry and works as a Senior Product Consultant for ATEB Suitability. He provides training and support for our users and also looks after the content of our suitability report templates. He loves to catch up with customers and is always available for a friendly chat.

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