Pension transfers – guidance from the Financial Conduct Authority
If you are considering a transfer, the FCA suggests you read their guidance including:
- what to expect from the transfer advice process and what good advice looks like: www.fca.org.uk/consumers/pension-transfer/advice-what-expect (you may also find the video in this link helpful).
- what questions you should consider asking your adviser: www.fca.org.uk/consumers/what-ask-adviser
- some of the risks you may wish to consider when thinking about a transfer: www.fca.org.uk/consumers/pension-transfer-defined-benefit
- what poor advice may look like - www.fca.org.uk/consumers/pension-transfer-defined-benefit/advice-checker. Please note that the information on what poor advice might look like is primarily for those who have already transferred benefits, but it could still be useful when you are considering the quality of any advice you receive.
Remember also that MoneyHelper is available if you are looking to speak to someone for free impartial guidance.
