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Identifying and responding to Vulnerable Customers is core to the FCA’s Consumer Duty Principle and providers who are regulated by the FCA will be able to report to their Trustee on this. A Vulnerable Customers policy for administrators to adhere to and be accountable for would also be a practical way to improve administration governance and member experience of trust -based providers that seem to be lagging behind on this.

We will hear from Charlotte Clarke who leads on this duty for the FCA to get a clear understanding of what is expected, and as the experience of vulnerable customers is of critical interest to pension scheme members we will consider  whether trustees are doing enough to hold their administrators to account on this important issue. 

To help us we will hear from Kathryn Jarvis, Operations TPA Manager, about the work Rothesay have been doing for vulnerable customers including use of technology and extra training and a focus on dementia and bereavement. We will also hear about the challenges that need to be overcome including engagement, risk of being seen to be 'pigeon-holing' customers and measuring progress.

As every member has the potential to be vulnerable, we hope you can join us to discuss how to improve this critical element of the member experience.