FCA publishes new rules and consultation on pension transfer advice

Trustees Agenda posted on 4 April, 2018

The FCA has recently released two publications regarding the governance of pension transfers. The first of these, Policy Statement 18/6: Advising on Pension Transfers, details the new rules regarding advice given to members looking to transfer their pension from safeguarded benefits.

The second publication, Consultation Paper 18/7: Improving the quality of pension transfer advice, contains information on the FCA’s suggested changes to its rules and guidance on pension transfer advice, including a proviso that advisors involved in providing transfer advice should have the same qualifications as investment advisors.