New delay for contingent charging ban decision

Six month delay

James Phillips
clock • 2 min read

The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.

The watchdog quietly updated the timeline of its pension transfer advice consultation, with its revised handbook text now due to be published in the second or third quarter of this year, rather than the first quarter, as originally planned. The consultation also explored whether to introduce a form of "abridged advice" and a crackdown on high ongoing charges post-transfer. The FCA had voiced concerns that too many advisers were delivering poor advice, partly driven by conflicts of interests in the way they are remunerated. A ban on contingent charging has been on the cards since March...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Your profession

Pension sharing on divorce: Why professionals need to step up on PSOs 25 years on

Pension sharing on divorce: Why professionals need to step up on PSOs 25 years on

'Pensions still remain the most routinely overlooked asset in divorce'

Joanna Newton
clock 10 December 2025 • 4 min read
FCA plans to ensure liquidity mismatches do not 'threaten financial stability'

FCA plans to ensure liquidity mismatches do not 'threaten financial stability'

Although good practice exists

Alex Sebastian
clock 09 December 2025 • 2 min read
Bridging the gulf between education and pursuing a career in advice

Bridging the gulf between education and pursuing a career in advice

'There's a pressing need for fresh infusions of young talent into the advice sector'

Steve Nelson
clock 09 December 2025 • 4 min read