DB transfer take-up hits six-year low
As market suffers from contingent charging ban
Contingent Charging
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Over 65% of contingent charging DB clients transferred pension
‘Strongest evidence’ of the potential for bias when an adviser gets paid more if transfer goes ahead
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UK to ban contingent charging for pension transfers
Mixed response from industry, with some criticising the move as ‘wrong’
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Contingent charging should be banned, says ex-FCA director
Mick McAteer believes there is ‘prima facie evidence for harm’ and the regulator was too slow to act
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UK regulator shelves contingent charging ban for DB pensions
Industry split as contingent charging likened to commission
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FCA keeps ‘unsuitable’ DB transfer assumption
The Financial Conduct Authority (FCA) has backtracked on a proposal to change its position that an adviser should assume that a Defined Benefit (DB) pension transfer is “unsuitable” for a client.