Wakey wakey rise and shine

clock

As the pension industry digests the findings of the FSA's review into pension transfers Helen Morrissey asks if it has delivered a much needed wake up call

The simplified tax regime ushered in by A-Day has prompted many people to consolidate their pensions by transferring from their existing arrangements into a personal pension or self invested personal pension (SIPP). While you would think that these transfers would result in the client getting a better deal from their pensions in some cases you would be wrong. The FSA prompted by concerns about the quality of advice in many of these cases carried out a thematic review into the process. The results published in December 2008 were shocking. The review looked at 500 transfer cases carried out...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Senior pension figures question HMRC's 7.7 million salary sacrifice uptake figure

Senior pension figures question HMRC's 7.7 million salary sacrifice uptake figure

‘It doesn't take much of an error in those figures to have no benefit whatsoever’

Jenna Brown
clock 15 December 2025 • 8 min read
FCA launches consultation on adapting to a 'changing pensions market'

FCA launches consultation on adapting to a 'changing pensions market'

Outlines regime for digital pension planning tool

Holly Roach
clock 11 December 2025 • 3 min read
Lack of focus delaying pension transfers, Origo CEO warns

Lack of focus delaying pension transfers, Origo CEO warns

Advisers share months-long delays as PensionBee’s petition calls for ten-day transfer guarantee

Sahar Nazir
clock 11 December 2025 • 6 min read