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.
The FCA is consulting on proposed guidance to firms in dealing with vulnerable clients.
While this paper is mostly of relevance to Pension Providers, there are some implications for advisers.
See here for dates and registration details.
The FCA has stated clearly that monitoring firms’ implementation of the Conduct Rules will be a key focus in future reviews of of SM&CR.
FCA video guide to pension transfer advice for consumers
Alistair MacDougall Compliance FCA, Pension, Pension Transfer
Although aimed at consumers, firms involved in transfer advice would do well to view the video.