The Financial Conduct Authority (FCA) has issued a data request to 65 financial advisers who advised on transfers from the Rolls-Royce defined benefit (DB) scheme.
The FCA, the Pensions Regulator (TPR) and the Money and Pensions Service (MaPS) have been actively engaging with Rolls-Royce and the scheme's trustees in order to be "vigilant" against the risks associated with increased transfer requests as a consequence of redundancies. According to a BBC article from July, more than 3,000 workers expressed interest in voluntary redundancy at Rolls-Royce across its UK operations. In May Rolls-Royce announced plans to reduce 9,000 jobs across its global workforce. The following questions were asked of advisers as part of the FCA's data request:...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.