The regulator should begin its consultation on defined benefit (DB) transfers "urgently" to avoid potential consumer detriment, Aegon pensions director Steven Cameron has urged.
The Financial Conduct Authority (FCA) today confirmed it would publish a consultation paper on advice and ‘safeguarded benefits', which includes DB transfers, and Cameron (pictured) said clients could suffer consumer detriment if advisers did not transfer out of fear of a regulatory backlash. He argued there was a risk the current high transfer values, which have come about as a result of low interest rates, would fall when interest rates do start to rise. An FCA spokesperson said the consultation paper would be published "in due course" but was unable to confirm a specific date. N...
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