FCA final guidance reiterates DB transfers not in consumers' best interests

The FCA originally published a draft guide in June last year but this finalised version contains some amendments. However, the regulator said it is proceeding with the guidance "largely as consulted". In an update published on Tuesday (30 March), the FCA said: "It remains our view that it is in the best interest of most consumers to stay in their DB pension. Where an individual seeks advice to transfer, we expect firms to give advice that is suitable and appropriate for their needs and situation." It said the guidance will help firms to identify any weaknesses in their existing proces...