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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2022-07-29.

FPCOB 9 Annex 3 Plan Statement

R

1This annex belongs to FPCOB 9.3.11R2.

1

Format

The plan statement must:

(1)

be a short and standalone document;

(2)

be presented and laid out in a way that is clear and easy to read, using characters of a readable size; and

(3)

be no less comprehensible in the event that, having been originally produced in colour, it is printed or photocopied in black and white.

2

Length

2.1

R

The plan statement must be set out on no more than 1 side of A4-sized paper when printed.

3

Presentation

3.1

G

A firm, when providing the information in the plan statement, should consider:

(1)

the use of tables to display costs and other ways to make the document and information more accessible and easy-to-read;

(2)

the use of bold and italic text to highlight key information.

3.2

G

The funeral plan provider may insert its company logo to the right of the title.

4

Headings, corresponding information and order of content

(1)

a clear and prominent statement outlining the purpose of the plan statement;

(2)

a clear and prominent statement that the customer should review the information in the document to consider whether the plan still meets their needs;

(3)

‘How much have I got left to pay?’

This section should clearly set out: the customer’s monthly payment (as appropriate), the total cost of their plan, and the amount paid to date.

This section should also prominently set out details of the outstanding balance and the duration of the remaining payments.

(4)

‘What does my plan provide?’

This section should set out a brief summary of what is included in, and excluded from, the plan and where further information can be found. This should also include the name of the relevant funeral services provider.

(5)

‘How do I make changes to my plan?’

A firm should explain whether a customer can make changes to the plan, how to do so, what changes they can make (e.g. paying it off more quickly, adding items to the plan) and any related costs. A firm should also explain where to find further information.

(6)

‘How do I cancel my plan?’

A firm should set out clearly and prominently the customer’s right to cancel and identify any cancellation fees.

(7)

‘Financial Services Compensation Scheme’

A firm should explain that if it is unable to meet its liabilities, the customer or covered individual (or their estate, if the customer or covered individual has died) may be entitled to compensation from the compensation scheme.

A firm should clearly state where customers or covered individuals can find further information in relation to the compensation scheme.

(8)

‘Contact us’

A firm should provide its contact details for the customer.