FCA confirms DB transfer guidance

FCA has confirmed its finalised guidance on DB transfers for advisers. The guidance does not show many changes from the version on which FCA consulted. It confirms FCA’s view that it is normally in the best interests of a consumer to stay within their DB pension, and that if an individual seeks advice about transferring, firms should give advice that is suitable and appropriate for their needs and situation. As part of FCA’s ongoing work on DB pension transfer advice, it has also published a guide for employers and trustees. setting out how they can help members without themselves being authorised under FSMA.

Emma Radmore