The Financial Conduct Authority (FCA) has today published new proposals on advice relating to pension transfers where consumers have safeguarded benefits, primarily for transfers from defined benefit to defined contribution pension schemes.
FCA's proposals target to evaluate the current environment and extent more the pension trasfer advices.
The combination of Financial Environment Changes and the Pension Freedom that has set on April 2015, had as a result an immese increase of transfer values.
FCA expects all consumers receive advice with all the relevant factors. Based on an FCA alert published in January.
Proposed changes will establish that consumers make the correct decisions for their own benefits.
Source: FCA
