FCA bemoans firms putting DB transfers over client interests
Regulator ‘still not confident’ that the concerns it has raised are being addressed
DB pensions
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UK regulator lays down the law over PI insurance cover
As PFS calls for changes to primary legislation to ensure advisers won’t leave DB transfer market
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PFS issues call for action over PI insurance market
After DB pension transfer specialists are handed hair-raising renewal quotes
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Future of the DB pension transfer market in question
Demand is still high, but advisers continue to exit the market and the FCA introduces changes
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What’s next for the DB pension transfers?
As market has a lack of high-quality, affordable financial advisers
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IFA firm to take 20% hit after dropping DB advice
Following Financial Conduct Authority market-wide review
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DB pension transfer complaints rise 44%
FOS received 798 complaints and upheld 39% of cases in favour of clients in 2018/19
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Partial DB transfers could temper pension freedom risks
Current ‘all or nothing’ mentality means people face losing guaranteed income in retirement
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Online tool to lift DB transfer review burden from advisers
Selectapension director says market will rebound post-Brexit
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UK firm to unveil ‘abridged’ advice pension transfer tool
It follows an FCA consultation which looked at changing how advisers assess clients’ circumstances
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Advisers split over regulator’s contingent charging proposals
Only 39% believe FCA changes will make a positive impact on the industry
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DB pension transfers hit £34bn in 2018/2019
More than half of the £60bn transferred out since pension freedoms were introduced in 2015