Information on advice given to defined benefit pension scheme members by approved firms - June 2020


Reference Case Number: FOI7322

Freedom of Information: Right to know request:

  1. The number of defined benefit (DB) pension scheme members receiving transfer advice from FCA approved firms
  2. The number of DB pension scheme members recommended to transfer out of their DB scheme by an FCA approved firm
  3. The number of DB pension scheme members recommended not to transfer out of their DB scheme by an FCA approved firm
  4. The number of DB pension scheme members transferring out of their DB scheme after receiving advice from an FCA approved firm
  5. The number of DB pension scheme members not transferring out of their DB scheme after receiving advice from an FCA approved firm
  6. The number of DB pension scheme members transferring out of their DB scheme after being recommended to transfer out of their DB pension scheme by an FCA approved firm
  7. The number of DB pension scheme members not transferring out of their DB scheme after being recommended to not transfer out of their DB pension scheme by an FCA approved firm
  8. The value of DB pension schemes where transfer advice has been provided by an FCA approved firm
  9. The average value of DB pensions where transfer advice has been provided by an FCA approved firm

I would like the data broken down for each of the last five years with a year-end date of April 30 or whichever year-end is most convenient. If you cannot provide data for each of the last five years, then please provide data for each of the last three years. If that is not possible, then please provide data for each of the most recent two years. 

If it looks as if the work involved in responding to this Freedom of Information Request is going to exceed the time permitted to respond under the Freedom of Information Act, then please prioritise providing responses to requests 1, 2, 3, 4 and 5.

FCA response:

Refer to supporting document below.

Supporting document

FOI7322 response