International advisers call for pension transfer rules review

Advisers are concerned about the cost involved in pension transfers under new rules as well as liability. Under rules introduced as part of the government's pension reforms in April, UK final salary pension transfers must receive 'appropriate independent advice' from someone who is authorised by the UK Financial Conduct Authority (FCA) to carry out pension transfer business. This means expats who have an adviser abroad and want to transfer their final salary pot to the country they live in, need to seek additional advice in the UK to be able to do so. Pension freedom has given defi...