FSA launches pension switching template

It asks advisers to consider whether the receiving scheme is more expensive than the ceding plan, and to justify a switch if it is, among other guidelines. The template's launch, which relates solely to switches from defined contribution schemes into Personal Pensions (PPs) or SIPPs, follows an FSA thematic review into pension switching advice which began last year and will conclude with widespread assessments of firms in Q3. An FSA review of transfers from all types of pension schemes into PPs or SIPPs since A-Day, published in December, found "unsuitable" advice in 16% of the 500 case...