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.



PS21_5 General Insurance Pricing Practices Market Study – implementation timing update
Michael Senior Compliance 2021, FCA, Update
The FCA has issued an addendum that delays the implementation of the rules relating to premium finance disclosure from 01 October 2021 until 01 January 2022. The updated article can be found here https:/ps21_5-general-insurance-pricing-practices-market-study