FSA warns of pension transfer complexities

The document stressed that information sent by firms to pension scheme members must be clear and easy for them to understand so that they can make an informed decision. In addition, the information in such promotions will need to be sufficient and presented in a way likely to be understood by the average reader and include an accurate, sufficient and balanced indication of the benefits and risks. Previously the regulator had highlighted the complexity of conducting defined benefit (DB) pension transfer business on a direct offer basis - where members of DB occupational pension schemes r...