Pension Transfer Advice – Are you up to date?

The FCA have published new rules and guidance on pension transfer advice, particularly defined benefit (DB) to defined contribution (DC) transfers. These include reducing the conflicts of interest created by current charging structures and enabling firms to give high quality advice, creating a more sustainable market for the long term.

Why were the rules changed?

Concerns were raised that with contingent charging – where advisers are only paid if a transfer proceeds – this creates an obvious conflict of interest.

Who does this affect?

This Policy Statement will be of interest to firms giving advice on pension transfers, particularly from DB to DC schemes. It will also be relevant to stakeholders with an interest in pensions and retirement income.

Read Gayle Conway’s recent article in the TCNews and see how Expert Pensions can support you, your clients and your business to comply with the new requirements.

Click here to read the TCNews Article by Gayle Conway

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