Revealed: Pension transfer permission application withdrawals jump 1,466% in 12 months

94 withdrawals in 2019

Hannah Godfrey
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“I think the additional challenge is unsurprising and good. Some questions may be around past activities – and I am sure anti-phoenixing will be a part of this" - Rory Percival
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“I think the additional challenge is unsurprising and good. Some questions may be around past activities – and I am sure anti-phoenixing will be a part of this" - Rory Percival

The number of financial advice firms who have withdrawn their pension transfer permission application has jumped fifteen-fold in one year, a freedom of information (FOI) request by Professional Adviser has revealed.

Professional Adviser's FOI request asked the Financial Conduct Authority (FCA) for data on the number of advice businesses that applied for pension transfer permissions from 2015 until the end of 2019,...

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