FCA could look at TVA requirements

FCA could look at TVA requirements

The FCA could conduct a review of its transfer value analysis requirements later this year.

In a 55-page policy statement, Proposed changes to our Pension Transfer Rules: Feedback on CP15/7 and Final Rules, the regulator said: “Later this year, as part of our broader review of our handbook pension rules, we will consider whether there is a need for a full review of our TVA requirements.”

It added: “We appreciate that the requirements were established when the only option within a contract-based pension scheme was to purchase an annuity.

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“We are keen to explore the options for reviewing the TVA methodology in light of pension flexibilities and will seek input from stakeholders on this process.”