Article preview: The suitability of advice to transfer from a defined benefit (DB) pension scheme to a personal pension has faced a great deal of regulatory scrutiny in the past couple of years. Deciding to transfer a promise of guaranteed income to the uncertainty of an invested capital value is far from simple. This choice represents one of the most complex personal finance decisions we will ever have to make. As a result of this complexity involved, it’s right that the Financial Conduct Authority (FCA) subjects advisers who offer this advice to a high level of scrutiny. The consequences for an investor making the wrong choice to transfer are severe and potentially very damaging to wealth in retirement.
Too much pension transfer advice is sub-standard
This 864 word blog discusses the complex regulatory scrutiny of advice regarding the transfer from a defined benefit pension scheme to a personal pension. Written on 19th June 2019.
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