Financial advisers warned of transfer risks after increase in Rolls-Royce DB transfers

Written by Ciara Davies

 The FCA, Pensions Regulator and Money and Pensions Service issued a joint statement confirming that the FCA had issued a data request to several financial advisers involved in pension transfers from the Rolls-Royce defined benefit scheme following on from recent redundancies. The statement highlighted that transferring out of the DB scheme was not likely to be in the best interests of the members and that the FCA would look to take action if it felt that advisers had fallen short of FCA expectations.