On 4 March 2015 the FCA issued a consultation setting out their revised regulatory approach to advice on DB to DC transfers. The consultation document can be found . The NAPF’s response welcomes the extension of FCA’s regulatory powers to cover advice on transfers from occupational DB schemes to occupational DC schemes as well as some other minor regulatory tweaks. However, we also express concern about an apparent inconsistency in the treatment of GAR benefits between the FCA and DWP as we have urged FCA to clarify this as soon as possible to avoid confusion.

Any members who have any queries about DB transfers should contact [email protected]