The Financial Conduct Authority (FCA) has suggested steelworkers who are concerned about the suitability of the advice they have received should stop their pension transfer.
In a note on its website updated today, the regulator suggested steelworkers who have concerns about the suitability of pensions advice they have been given should contact their scheme administrators, who may be able to stop the transfer. It said: "The FCA is aware that some members may be in the process of transferring out of the British Steel Pension Scheme (BSPS), and could have concerns about whether the advice they received was suitable. "The FCA along with The Pensions Regulator, which regulates the trustees and the BSPS, recommends that members who have a pending transfer and...
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