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

Published 30 March

Sophie King
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It said the guidance will help firms to identify any weaknesses in their existing processes so that they can put into place an appropriate framework for managing and delivering suitable advice.
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It said the guidance will help firms to identify any weaknesses in their existing processes so that they can put into place an appropriate framework for managing and delivering suitable advice.

The Financial Conduct Authority (FCA) has published guidance on advising defined benefit (DB) transfers and has reiterated its stance that it is best savers do not transfer out of final salary pension schemes.

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 consulte...

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