FCA has asked pension schemes or trustees to report to them instances when they have had concerns about or have refused a pension transfer. It is seeking information on:
- individuals who provide unauthorised advice on pension transfers
- increases in volumes of transfers advised by the same adviser
- if a member requested a transfer following unsolicited contact
- if a member has been offered an incentive to make a transfer
- if the scheme has high risk or unregulated investments
- if the scheme charges are unclear or high
- if the scheme’s investment structure is unclear, complex or unorthodox or
- if there is potential scam activity
FCA gives some examples of behaviour that concern it, and provides email addresses to which reports should be made.