Better Business: Pension switching review

The FSA found varying standards, and whilst a number of firms provided consistently suitable advice, the FSA was concerned that, in some instances, firms gave advice which was assessed as unsuitable in a high proportion of cases. The FSA expects firms to have reviewed their practices in light of the findings, including a sample of past cases, to identify if any changes need to be made in order to meet the stated standards. In short, the FSA believes that a switch of contract, which results in extra product costs without good reason, is deemed to be unsuitable. The issue of extra cost...