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.



FCA Survey – problem question
Michael Senior Compliance 2022, FCA
We wrote recently about the latest FCA survey. This is mandatory and some firms have been querying how to answer one of the questions. The question asks – What are your estimated cash needs (fixed costs, known variable costs) and expected cash inflows between 1 March and 31 May 2022? (GBP) Please report the […]