PFS-backed taskforce to launch consumer DB transfer guide

Based on nine principles

Hannah Godfrey
clock • 2 min read

The Pensions Advice Taskforce is to launch a consumer guide for defined benefit (DB) transfers as part of a sector-wide collaboration to help the public understand what to expect from professional financial advice.

The taskforce was established by the Personal Finance Society (PFS) and the guide will be linked to an adviser code, which will be based on nine principles underpinning good practice when giving pension transfer advice. The guide will be called the pension transfers ‘Gold Standard' and advisers who adopt the code will be required the display the Gold Standard badge. The Pensions Advice Taskforce is an industry-wide representative body designed to enhance consumer awareness and protection in areas of complex pension advice. It also aims to align standards across the industry and, ultimate...

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