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:
You can access the factsheet here.
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In this age of litigation, it is pretty staggering to see that even the DWP has included a legal disclaimer in this guidance.
Nevertheless, it provides a useful source of information.
Read the factsheet carefully and file for future reference.
Further guidance on dealing with customers in financial difficulty.
How do the transitional rules on transfer advice apply?
The Gabriel replacement is now being rolled out to firms.
Firms that provide advice on DB pension transfers have to consider workplace pensions as the destination. How can these be researched?
SM&CR – FCA explainer video
Alistair MacDougall Compliance FCA, SM&CR
The FCA has issued a video explaining what firms have to do ahead of 31 March 2021.