AJ Bell calls on FCA to question DB transfer assumption rules

The pension provider said in a post-pension freedoms market, at a time when many DB schemes were in deficit, the rules may no longer be appropriate. It said the matter should be addressed in the FCA consultation on DB transfers, likely to come out on 21 May. FCA rules still stipulate that an assessment of DB to defined contribution transfers must start with the presumption that it will not be in the client's best interests. AJ Bell said the consultation should ask whether the current presumption of unsuitability is still appropriate in today's market or whether the suitability of a...