Govt to introduce personalised risk warnings on all guaranteed pensions

To be implemented in April 2018

Hannah Godfrey
clock • 2 min read

The government wants personalised risk warnings to be given to all pension savers with safeguarded benefits, including those worth less than £30,000, it has said.

In a consultation response published in July, the government said it acknowledged concerns raised about the advice requirement not covering some money purchase benefits with guarantees in occupational schemes. From 6 April 2018 risk warnings will therefore need to be provided to all members in GARs schemes, whether the value of the pot is above or below £30,000, unless annulled by parliament, the government said. At present only members with a defined benefit scheme or GARs valued at £30,000 or more must seek financial advice before transferring out. While the advice requirement wi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

The Great Wealth Transfer: women, wealth and what comes next

The Great Wealth Transfer: women, wealth and what comes next

Sponsored content from WIFA 2025 headline sponsor LV=

LV=
clock 03 November 2025 • 6 min read
Partner Insight: The psychology of retirement

Partner Insight: The psychology of retirement

Bridging the advisers-clients gap: How emotional intelligence can help build deeper trust with clients and better understand their financial goals

James Woodfall, Raise Your El.
clock 15 September 2025 • 1 min read
Managing drawdown risk: A new frontier in retirement planning

Managing drawdown risk: A new frontier in retirement planning

'Volatility alone is no longer a sufficient risk measure'

Matthew Wright
clock 29 August 2025 • 4 min read