...who now have yet another step to complete in the DB to DC transfer process!
Given that pension scams continue to be a major problem, and there are great efforts across the industry to combat this, it strikes me as extraordinary that the FCA should choose this time to remove all but senior managers from the FCA register, before replacing it with the planned new Directory. This is expected to be released sometime in 2020, but in the meantime the Pensions Regulator expects trustees to not only check that the IFA firm is on the FCA register but also contact the firm to ascertain that the adviser works for them. How tiresome!
Nevertheless as trustees are expected to do this, we need to check that our poor administrators are aware of this new requirement, and are compliant.
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