FCA consults on advising on pension transfers
06 Sept 2017
Consultation on the FCA's CP17/16 proposals in terms of advice relating to the transfer and conversion of pension arrangements with safeguarded benefits, closes on 21 September.
The aim of the document is to reflect the current environment and the increased demand for pension transfer advice as a result of the pension freedoms and high cash equivalent transfer values (CETVs).
For the most part, this applies to transfers from a defined benefit (DB) scheme to a defined contribution (DC) scheme (typically a personal pension). The proposed new rules outline the FCA's expectations of advisers and pension transfer specialists to ensure that their clients receive advice that considers all the relevant factors.