Aegon pensions director Steven Cameron speaks to Professional Adviser’s Sophie King about the FCA's latest defined benefit (DB) transfer guidance, arguing the guide is like the bible for DB transfers
Last month, the Financial Conduct Authority (FCA) published guidance on advising defined benefit (DB) transfers and has reiterated its stance that it is best savers do not transfer out of final salary pension schemes. The FCA originally published a draft guide in June last year but this finalised version contains some amendments. However, the regulator said it is proceeding with the guidance "largely as consulted". In an update published on 30 March, the FCA said: "It remains our view that it is in the best interest of most consumers to stay in their DB pension. Where an individual ...
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