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FSA Thematic Review

In December 2008 the Financial Services Authority (FSA) released a report on the 'Quality of advice on pension switching'. It is important to note that this report related to pension switching into a personal pension plan or SIPP and not specifically transfers to SIPP. The FSA are not suggesting that advisers should not consider transferring a customer’s pension arrangement(s). The purpose of the review was to assess the suitability of the advice given to customers to switch their existing pensions into personal pension plans and SIPPs

An outcome of this report was the production of a suitability assessment template which firms may wish to use in assessing the suitability of pension switching advice. In this section of SIPPZone we look at the Standard Life SIPP proposition and illustrate scenarios that may help you in reviewing the suitability of your client’s decision to transfer.

Suitability Assessment Template
Customer Needs Analysis
Product Suitability
Conclusion

You are solely responsible for the advice you give and we are not providing advice where you use any of this information in your advice process. This is general information only and is used at your own risk.

Supporting Documents
What does the FSA Thematic Review really mean for SIPP? Code: SLSIP128 Size: 104KB
Some considerations when switching pension providers This document has been designed to highlight some things you could consider when assessing whether your clients should switch their pension benefits to an alternative provider. Code: SLSIP131 Size: 10KB

The information on this site is for qualified advisers only and must not be relied on by anyone else. If you are not an adviser you should go to our main website for information about our products and services.

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