New non-contingent charging for defined benefit pension transfers – from October 1st, 2020 The FCA have ruled that from the 01.10.2020 all defined benefit (final salary) pension transfer advice must be provided on a non-contingent basis, excepting in some very limited circumstances. This means that irrespective of the outcome of the advice, the client will … Read more
Emma Agyemang (Financial Times 29/08/2020) writes about; the upsurge in pension transfer values during Covid, the fall in overall pension transfer activity, and possible impact of new contingency charging on finding good advice… Size of final salary pension transfer values soar during lockdown “Average values rise by 30 per cent to £550,000 as those with … Read more
Retirees left adrift by looming pensions advice gap Final salary pensioners face a shrinking pool of professionals willing to give vital financial advice. Laura Miller (interactive investor, 7/09/2020) writes about the possible repercussions from a new law taking effect 1st October where financial advisers will no longer be able to offer clients the option to … Read more
