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.



SM&CR – Conduct Rules reminder
Alistair MacDougall Compliance 2019, 2020, FCA, SM&CR
Firms need to undertake Conduct Rules training before 9 December 2019 for Senior Managers and Certification Staff.