Pension Transfers
Advice network handed pension transfer ban
Regulator also says it must not take on any new appointed representatives
DB transfer values stable after 37% slump last year
93% of cases raised at least one scam warning flag in January
FCA extends asset retention rules for British Steel advice firms
As it writes Dear CEO letter telling pension providers to comply with information requests
DB transfer values plummet 37% in a year
2022 also saw a large rise in transfers being flagged as showing potential signs of a scam
44% of pension transfer amber flags raised for ‘unknown’ reasons
Quilter calls on the UK government to tackle this issue