Changes to unsuitable DB transfer redress planned

Financial Conduct Authority launches new consultation on redress methods

Ayesha Venkataraman
clock • 2 min read
Changes to unsuitable DB transfer redress planned

The Financial Conduct Authority (FCA) has proposed some updates to its current methodology for calculating redress for unsuitable pension transfer advice, including the British Steel Pension Scheme (BSPS) redress scheme.

The regulator yesterday (2 August) said this would ensure the guidance reflects actuarial best practice, reduces the impact of market volatility, and is responsive to savers' individual circumstanc...

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