FCA asks advice firms to remove unused pension transfer permissions
Fifth of market not using DB permissions
The FCA has written to advice firms asking them to consider removing their pension transfer permissions.
The Financial Conduct Authority (FCA) has written to advice firms asking them to consider removing their pension transfer permissions if they have not used them, Professional Adviser can reveal.
PA is aware of at least one firm that has been contacted by the regulator after holding the pension transfer permission without ever using it for defined benefit (DB) transfer work. PA understands the...
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