Pension transfers and the FCA: A well-meaning intervention that risks falling short

'The secret is giving people the right information at the right time'

clock • 4 min read

Rachel Vahey looks at the latest FCA intervention on pension transfers and says she has 'several concerns'...

One of my favourite statistics is that during their working lifetime, people, on average, have 11 different employers. If accurate, then it's a neat way of demonstrating the real-life challenges thrown up by automatic enrolment. If we have 11 different employers, most of us will probably build up 11 different pension plans. Some of those may not hold much money, some may have slipped from memories and some will be ignored. This is causing issues, and the Department for Work and Pensions (DWP) is taking action to reduce the number of ignored pensions. Overall consolidation of workpl...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Do clients already own the best retirement portfolio?

Do clients already own the best retirement portfolio?

'Feeling safer and being safer aren't the same thing'

Alex Funk
clock 29 October 2026 • 4 min read
Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Changes will also be made to how tax due on excess lump sum death benefits is collected

Jonathan Stapleton
clock 28 October 2026 • 1 min read
Budget 26: State pensioners to be shielded from income tax

Budget 26: State pensioners to be shielded from income tax

State pension expected to rise to £13,036

Sophia Panayi
clock 28 October 2026 • 2 min read