For many consumers, pension reforms have ushered in a whole new approach to the way they think about retirement. Providers have become a vital point-of-contact for millions of consumers seeking clarity and support.
As the main professional body for the life, pensions and long-term savings sector, the CII recognises it has a role to play to ensure the sector continues to meet the needs and expectations of consumers.
The requirements of the Life, Pensions and Long Term Savings Professional Commitment were developed in the interests of positive consumer outcomes.
It requires leaders of signatory organisations to hold membership of a professional body, commit to CPD, and hold relevant professional qualifications.
Managers are expected to hold a minimum certificate-level qualification, and, together with professionals in senior technical roles, are expected to be working towards a diploma qualification.
The majority of customer-facing staff and team leaders are expected to be working towards a certificate-level qualification, with all new joiners required to complete an award-level qualification within 12 months of joining, and commit to a code of ethics and CPD.
The standards were shaped by a steering group of senior leaders from across the sector. who recognise the challenges facing consumers planning their retirement, and understand the value of taking a collaborative approach to supporting them.
Steve Jenkins is development director of the Chartered Insurance Institute