Mis-selling fears force third-party checks on UK pensions advice

February 20
03:04 2020

UK companies are imposing third-party checks on financial planning firms providing retirement advice to employees in a sign of growing boardroom nerves over pension mis-selling. Independent financial advice firms pitching to work for multibillion-pound corporate pension schemes are being required to have the transfer advice they give to pension scheme members reviewed by an independent third party not linked to the regulator. of DB transfers may have proceeded on unsuitable advice, with tens of thousands of members now at risk of running out of money in retirement.

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