DP19/2: Intergenerational differences

Open discussion: DP19/2
Discussion closes

We are launching a discussion with industry, consumers and their representatives, regulators and academics to understand the changing financial needs across generations for UK financial services markets.

Intergenerational differences

Watch a video of our conference held at The Royal College of Physicians discussing issues on the intergenerational financial challenge.

Video transcript (PDF)

Read DP19/2 (PDF)

To ensure financial markets work well, we need to understand how socio-economic changes impact both markets and individuals.

We want to publicly outline our understanding of the issues different generations face, bring together stakeholders to pin point issues that need a response and identify specific action we can take to help the market meet these changing consumer needs.

This Discussion Paper presents data, demographic and socio-economic trends to look at the financial needs of 3 generations of consumers – Baby Boomers, Generation X and Millennials.

Who this applies to

This paper is relevant to FCA-regulated firms, particularly banks, insurers, mortgage lenders, and consumer credit and pension providers. It may be of interest to a wider range of stakeholders, including industry groups or trade bodies, policy-makers and regulatory bodies, consumers, charities and civil society groups, industry experts, academics and think tanks.

​​What you need to do

Please send us your comments by 1 August 2019.

Online response form

You can also:

  • email your responses to: [email protected] or
  • write to: Intergenerational Project, Strategy and Competition Division, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN

Next steps

We are holding a summer conference on 2 July 2019 to discuss and debate the issues in this paper and the responses we’ve received.

Responses to this paper and the output from the conference will help us determine the work we take forward to continue to advance our objectives under changing circumstances.

The conference is free and is open to all interested parties. Register your interest and find out more. Please note: We cannot guarantee a place to everyone who registers interest in attending.