Pension transfer activity falls to lowest level in five years
As FCA updates guidance on how to support vulnerable clients when providing pension transfer advice
ANNOUNCEMENT: UK Adviser is now PA Adviser. Read more.
As FCA updates guidance on how to support vulnerable clients when providing pension transfer advice
As 95% of cases reviewed in June raised at least one scam warning flag
93% of cases raised at least one scam warning flag in May
It has decreased to its lowest level in nine months
As activity falls to lowest level since September
While 92% of cases raised at least one scam warning flag in February
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93% of cases raised at least one scam warning flag in January
2022 also saw a large rise in transfers being flagged as showing potential signs of a scam
After it reached a record low in October 2022
They have fallen 33% since December 2021
As transfer values fall below £200,000 for the first time since 2016 making the return of annuities more appealing