The Department for Works and Pensions (DWP) has produced a factsheet for pension scheme providers but which will be of interest to advisory firms.
It aims to clarify two issues, namely:
- Whether certain types of pension benefits which contain a promise, including those with a guaranteed annuity rate (GAR), are safeguarded benefits;
- When the exception to the requirement to take independent advice for those with safeguarded benefits worth £30,000 or less applies.
You can access the factsheet here.



Positive Compliance: Episode Two
Steve Bailey Compliance FCA, Pension, PI, Switch, Xplan
This is the second in our series of Positive Compliance news articles and focusses on the important topic of Pension Switching. Find out more by reading the full article.