Open consultation: GC17/1
10/03/2017
Consultation closes
10/06/2017
Finalised Guidance: FG17/9
27/10/2017
27/10/2017
This is our finalised guidance for firms on how to calculate redress for unsuitable defined benefit pension transfers. The summary of feedback outlines the response to our consultation.
Show summary of feedback received (PDF)
In GC17/1, we consulted on guidance to update the methodology used to calculate redress for unsuitable pension transfers from a defined benefit pension scheme to a personal pension. Our proposals resulted from a review of the existing methodology carried out by PricewaterhouseCoopers LLP (PwC).
This new guidance may directly impact on:
This guidance is effective from 27 October 2017 and assumptions should be taken from 1 October 2017, then updated quarterly in line with the guidance.