Investment Pathways tool user interface and data provision

Descriptions

The FCA has concerns about consumers moving into drawdown and holding their funds in investments that will not meet their needs. To address this the FCA requires that firms offer customers, who do not take advice, a range of investment solutions that broadly meet their objectives, otherwise known as 'investment pathways'. Under the Financial Conduct Authority's Conduct of Business rules on investment pathways, the Money and Pensions Service (MaPS) is required provide a web-based Investment Pathways Comparison tool. The purpose of the tool is to allow non-advised customers who are interested in investment pathways to shop around at the point of moving into drawdown or once in drawdown. The tool shows products that are available on the open market and direct to consumers so that users of the tool know that what is shown is available to them. The Investment Pathways Comparison tool has been available to customers to use since February 2021. The existing tool was developed and hosted by an external supplier on our consumer facing website, MoneyHelper. The current supplier maintains all aspects of the tool, including both the front end displays and functionality as well as supplying the data feed of the providers pension products allowing users to compare a specific and limited list of fees and charges. The current contract for this service expires in 2022. Therefore MaPS wishes to ascertain interest from the market prior to any potential tender process for the provision of this service. Any providers who would be interested in bidding for this opportunity to please indicate this by replying to the contact email address by Friday 25th March.