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Steven Cameron, Pensions Director at Aegon comments on the interim report from ACA’s Pension Trends Survey |
“The ACA report is a stark reminder that demand for advice on defined benefit transfers continues to significantly outstrip supply, meaning the market is not working effectively for the benefit of customers. With the potential for gilt yields to rise and transfer values to fall, it’s vital that this is addressed urgently so individuals can get the advice they need to consider this important decision. “The FCA recently consulted on an updated approach to DB transfer advice, reflecting current market conditions and the pension freedoms. We hope the FCA will now move quickly to publish new guidelines, updating and clarifying its expectations so that many more advisers can offer advice with confidence on ‘best practice’.
“This may also pave the way for standardisation of the information advisers seek from trustees to allow them to advise.” |
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| London - £170,000 Per Annum | ||
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