JLT halts pension transfers after FSA guidance

Managing director Karen McCaffrey (pictured) said the firm believed the move was in the best interest of clients. She said: "In light of the FSA's announcement and the change to assumptions around transfer value analysis and their immediate effect we have agreed with our clients that we will suspend advice until all the consequences have been considered and our response agreed." The FSA published the tough new rules on TVAs last month, saying they were raising the standards on the assumptions used in the exercises. JLT is currently advising on enhanced transfer value exercises for ...