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Changes to DB Transfer redress calculations – an update

We wrote about the background to updated redress guidance following the Chancellor’s announcement of changes to the way that the Retail Prices Index (RPI) inflation measure is calculated from 2030. You can read that article here.

The FCA’s transfer redress guidance has now been duly updated and can be accessed here. The changes affect all redress calculations since  25 November 2020, even where those have been agreed and settled with clients. Calculations will need to be redone if necessary and any additional redress due will need to be paid.

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Changes to DB Transfer redress calculations – an update

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

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