Question: What impact do you think the FSA review on pension transfers will have on the industry?

Peter Carter is head of product marketing at Met Life UK The pensions transfer market is potentially a huge opportunity for advisers with an estimated value of around £10 billion a year which easily outstrips the £6 billion a year value of the drawdown market. The FSA review of the pensions transfer market is therefore worrying when it reveals around 16% of the cases it has examined since A-Day have been wrongly advised. The FSA will carry out further checks in the third quarter of 2009 and write to all 4,500 firms that advise on transfers setting out the standards it expects. It is i...