The FCA has repeatedly stated that its concerns about defined benefit (DB) pension transfer advice is a key supervisory priority. Several thematic reviews have shown the quality of this advice to be well below the standards that the FCA expects. Rules continue to evolve and despite – or perhaps because of – the impact of COVID-19, both advisers and product providers can expect continued scrutiny in this area.
We ran a series of four short events every Wednesday in May to discuss defined benefit (DB) pension advice. You can view them here: