DB transfers

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New pension transfer qualification attracts 500 applications in first week

A new pension transfer qualification has seen 500 sign-ups in its first week of its launch. The Chartered Insurance Institute has officially kicked off enrolment into its Level 4 Certificate (AF7) in pension transfers advice, which tacks a new Level 6 pension transfers unit onto three existing Level 4 exams covering pensions and retirement planning, […]

Understanding the FCA changes to pension transfer rules

The FCA has begun consulting on changes to its requirements around advice on pension transfers where clients have safeguarded benefits; in particular, defined benefit transfers. The proposals seek to recognise that the economic and legislative environment has changed significantly. If you are active in this market, you can contribute by completing the online response form […]

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The DB transfer elephant in the room

The issue of defined benefit pension transfer advice continues to dominate the adviser news agenda. It is the keynote topic at adviser conferences, it is lighting up online traffic on adviser websites and it is the go-to topic of conversation at industry meetings. Money Marketing has been writing in-depth cover stories on the topic for […]

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Tenet: How to best manage the DB transfer window

Defined benefit pension transfers continue to be in the spotlight following the FCA’s recent consultation on pension transfer advice. One thing that is not changing is the three-month window of opportunity customers and advisers have to complete the DB transfer, in order for the pension provider’s guaranteed cash equivalent transfer value to be honoured. While […]

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Richard Parkin: DB transfers aren’t black or white

I think we were all pleased to finally see the FCA’s consultation on defined benefit transfers. Even for those that don’t agree with all of the content, the time for revision of the current rules is long past. Even before pension freedom, the rules, many of which were formulated in the aftermath of the mis-selling […]

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DB transfer boom could increase PI bills, advisers warn

Advisers have expressed concerns that the cost of their professional indemnity insurance will rise because of the defined benefit pension transfer boom. In a survey of more than 200 advisers by Prudential, nearly 40 per cent said that were concerned about contested advice becoming a future liability, and 17 per cent expected PI bills to […]

PFS chief: Stricter DB transfer advice rules are good news

The FCA’s recent proposals to introduce stricter rules on advice requirements for pension transfers are a welcome step in the right direction. Over the past few months I’ve aired my concerns about the spike in pension transfer activity since pension freedoms, with figures from The Pensions Regulator suggesting 80,000 defined benefit pension transfers took place […]