The Financial Conduct Authority (FCA) has published a video on defined benefit (DB) transfers to help consumers better understand the advice they received on a transfer.
The regulator said the video would help those who have transferred out of their DB pension and are unclear whether they received good quality advice, including former members of the British Steel Pension Scheme. It said the 17 minute video would also be of interest to those who may be considering transferring out and therefore wish to understand what the process should look like before they start. The FCA said the video highlighted "key information" customers should be provided with by their adviser, and also offered clients questions they should ask. In the video, FCA senior asso...
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