Tideway sees ‘major spike’ in DB transfer business
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In a 53-page consultation paper, Proposed Changes to our Pension Transfer Rules, the FCA said: “Our general presumption is that transfers from DB schemes to DC arrangements are unlikely to be in consumers’ best interests.
“However, we accept that there may be a limited number of circumstances where a valid case for transferring can be made – for example, where a consumer has a limited life expectancy.”
The watchdog is consulting on measures including a requirement that all transfers advice be carried out or checked by a specialist.
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