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PSG Update - February 2026

26 March 2026

This is the January Process and Standards Group update.

Standards projects

Annuity Application 

Develop a new standard to enable advisers, using a portal or adviser software, to supplement an existing guaranteed quote reference with the additional non-quote data required to populate the annuity application.

Progress

  • The initial review of the Business Requirements Document took place; a few updates were agreed.
  • Initial technical analysis has commenced.  

Future Milestones - March:

  • Draft B of the Business Requirements Document will be issued.
  • A meeting has been arranged for 26 March to review some technical questions and assumptions.  

Platform Account Opening

Develop a Platform Account Opening (PAO) Standard with a focused data content that will reduce the level of inconsistency experienced under the current FIT-based approach.

Progress

  • Further requests have been made for industry participants to review Draft B Standards material, which was published earlier in the year, and provide comments.
  • Little feedback from working group has been received to date.

Future Milestones - March:

  • Hold 1-1 meetings with working group members as required.
  • Assess industry feedback.
  • Respond to requests for access to Draft B PAO Standard.

Document Access

Develop a standard to enable advisers, through their practice management software, to digitally obtain secure client documents from a provider or platform’s document store on behalf of their clients.

Progress 

  • No further development activity has recently been untaken on the Document Access Standard.
  • Draft A of the Document Access Standard remains published on the website and is available for review to members who are LPI license holders.

Future Milestones - March:

  • Assess any industry feedback received on the Draft A Standard.
  • Hold 1-1 meetings with working group members as required.
  • Respond to requests for access to the Draft A Standard.
  • Where possible, determine industry implementation plans.

BAU Change Requests

Ongoing activity in relation to maintenance of current Standards via change management process.

Progress

  • Change Request (CR) requirements for New Business Annuities are being incorporated into the Annuity Application development, and are not planned to be made to the existing New Business Annuity Standard.
  • No further progress has been made on the Quotes Annuity CRs given the current focus on Annuity Application development.
  • To resolve inconsistencies between Contract Enquiry Bulk Valuations v1.1and Contract Enquiry Bulk Transaction History v1.0 specifically around ‘off platform’ assets, four new business terms have been identified.

Future milestones - March:

  • Continue with Quotes Annuity CRs project activity should time be available, given the priority is the Annuity Application Standard development.
  • Document the solution for Contract Enquiry Bulk Transaction History and share outcome with the PSG.

Standards and other documents published

Standards published:

  • None

Other documents: