FCA comments further on DB pension transfers

As part of its ongoing work on the defined benefit (DB) pension transfer market since the pension reforms of 2015, the FCA has issued an update on its key findings so far. The update covers concerns about the risks posed to clients from the use of specialist pension transfer firms and assessments of suitability in the market in general.

In August 2016 an alert was issued by the FCA on general risks associated with firms accepting introductions. Further supervision work has demonstrated that the details of this alert have not been fully taken into account. The concerns are:

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