The 2016 Commitment
The 2016 Life, Pensions and Long Term Savings Commitment encourages any organisation that has customer contact through the provision or administration of life, pension, or long term savings products to commit to a common framework of professional standards, and to implement these standards by the end of 2018.
Developed in conjunction with an employer steering group, comprising senior sector leaders, the 2016 Commitment is a practical, flexible framework that embeds professionalism across the sector.
By signing the 2016 Commitment and embarking on this journey, organisations join the vanguard of the sector, publicly addressing consumers' expectations for visible leadership in professional standards.
Why this journey is important
The credibility of our sector is based upon trust.
Life, pension and long term savings providers are a vital point-of-contact for millions of customers seeking to address their financial needs. The sector has a huge opportunity in the light of pension reforms to meet these needs, in a way that secures public confidence over the long term.
The 2016 Commitment is a sector wide statement of intent that embraces all aspects of professional standards. The standards are challenging but realistic and measurable, they will play a key part in improving customer confidence.
The 2016 Commitment is also about the sector's prime asset: its staff, creating a recognised profession motivates the best people and attracts new talent.