Thematic Review of Retirement Income Advice Checklist

This document is a checklist designed to assist firms in implementing the findings and recommendations from the Financial Conduct Authority's Thematic Review of Retirement Income Advice (TR24/1), published in March 2024. It outlines practical steps that firms should take to align their retirement income advice processes with regulatory requirements. The checklist includes recommendations for conducting a gap analysis, utilizing the Retirement Income Advice Assessment Tool (RIAAT), and improving management information systems to monitor customer outcomes. Additionally, it emphasizes the importance of documenting actions taken in response to the review's findings. The document also addresses considerations for firms providing products or services to regulated financial advice firms, urging them to reflect on the implications of the review for their operations. The ongoing focus of the FCA on retirement income advice is highlighted, indicating that firms can expect further supervisory work in this area.