The UK Financial Conduct Authority (FCA) says pension firms must do more to ensure older customers receive fair value from their pension products. Under the FCA’s Consumer Duty—rules requiring firms to deliver good outcomes for customers—companies are expected to be able to demonstrate that the pensions they offer are suitable and that customers continue to receive value over time, not only at the point of sale. The regulator’s message focuses on older pension holders, indicating that firms should pay close attention to how products perform for this group and whether any features, pricing, or service levels result in outcomes that are fair. The FCA’s position is that firms should evidence compliance with the duty by showing that customers’ interests are central and that they are protected from practices that could lead to poor value. The FCA’s guidance therefore emphasizes ongoing assessment and monitoring of consumer outcomes across the lifetime of pension products, with particular scrutiny on the experiences of older consumers.