19 firms stop giving pension transfer advice in the UK

Nearly 5,000 transfers were carried out in four years, but this ‘is not surprising’ expert says

Industry | 3 Jan 19

Operation created by merging Money Advice Service, Pension Advisory Service and Pension Wise

The ban will come into effect on 9 January 2019

Industry | 6 Dec 18

FCA: ‘It is unacceptable that pension transfer advice should persistently remain at such a low level in comparison to investment advice’

But victims lost an average £91,000 each in 2017

Retirement