As indicated in last week’s Newsletter, we will be running a series of webinars, starting late October, that will provide detailed explanation of the new rules around Pension Transfer Advice and how firms can satisfy these.
There will be three webinars, each lasting around 20-30 minutes, as follows:
- Part one
Overview of the rule changes
Contingent charging ban - Part two
Filtering
Information / Education (‘Triage’)
Abridged Advice - Part three
Considering the Workplace Pension option
Other rule changes
Pension Transfer charging
Alistair MacDougall Compliance abridged, FCA, P1, Pension, Pension Transfer, PI, transfer
Policy Statement PS 20-06 stated that a firm providing pension transfer advice “… may also not charge less than it would charge for investment advice of the same value”. That seems clear enough, but the rule that gives effect to this statement is subtly different. COBS 19.1B.7 states: “A firm should not charge less […]