Comment and Blogs
The FCA this week revealed plans for changes on DB transfer advice, including scrapping guidance that the adviser should start from the assumption that a transfer will be unsuitable.
I went into a meeting for only a couple of hours and come out to find out that for many the state pension age will be 68 rather than 67 as they were expecting, for me however there is no change – well not yet anyway.
When Theresa May called a snap General Election in April, few would have envisaged the outcome resulting in a hung parliament and no Conservative majority.
I have just finished AJ Bell’s annual tour of the UK where a host of lucky advisers got to hear me talk about the current key pension issues.
As is to be expected, a lot of the conversations that I have recently had with advisers have centred around defined benefit (DB) transfers.
Pensions are at the mercy of many areas of legislation and the unintended consequences of this seems to be hitting areas of pensions more and more and things get even more complicated.