People's Pension has joined The Investing and Saving Alliance (TISA) and will become a member of the organisation's Vulnerable Customers Working Group.

The not-for-profit membership organisation, TISA, represents more than 260 organisations across the savings, investments, pensions and wealth sectors.

The Vulnerable Customers Working Group brings together regulators, industry representatives and vulnerability specialists to discuss issues affecting vulnerable customers and approaches to supporting them throughout retirement.

According to Financial Conduct Authority (FCA) research, around half of UK adults display one or more characteristics of vulnerability at any given time, with the proportion increasing during periods of financial pressure.

People’s Pension said joining TISA would allow it to contribute to industry discussions on vulnerability, help develop guidance and keep abreast of developments in standards and regulation.

People’s Pension product and proposition director, Kirsty Ross, said: “Vulnerability can affect anyone, whether through financial pressures, health challenges or bereavement.

“Joining TISA provides an important opportunity to learn from other industry experts and help shape the future of support for vulnerable customers.

“Through discussion and collaboration, we can continue improving our approach and ensure that even more people receive the support they need to make informed decisions about their retirement.”

TISA chair, Mark Westwell, added that People’s Pension brings “valuable insight” that will strengthen the important work of TISA’s Vulnerable Customers Working Group.

Westwell said TISA would work with People's Pension to build knowledge and develop approaches to supporting vulnerable customers across the financial services sector.

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