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FSA guide aids IFAs on FSAVC review

The FSA is issuing a fifth bulletin giving IFA firms guidance on the requirements of the FSAVC review.

The latest guidance follows the publication of procedures and standards to be used by firms when conducting the review in May.

The review is a focused exercise similar to that used for phase two of the pension review and covers about 10 per cent of FSAVC sales.

The latest bulletin provides IFAs with guidance on N2 and the review, the British Airways&#39 pension scheme, the treatment of windfalls, gathering information about a cli-ent&#39s occupational scheme, calculation of the value of employer-subsidised benefits and the reporting requirements after N2.

FSAVC sales covered by the review are those where the investor could have potentially benefited from an emp-loyer contribution into an in-house AVC scheme.

An FSA spokeswoman says: “This guide is aimed at further helping IFAs to understand the review process and provide additional information.”

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