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Pension switching: to switch or not to switch - that is the question

Published  16 March 2021
   75 min CPD

Craig looks at the main regulatory concerns with pension switching and how advisers can overcome these.

He also looks at what the regulator considers to be suitable reasons for a client to switch, what advisers need to consider with the ceding scheme, what research they expect advisers to carry out and where they can easily access the information, and what advisers need to include in a suitability report.

CPD learning outcomes - 75 minutes

  • Document their advice process in line with the regulator requirements
  • Identify the relevant risk factors associated with pension switching
  • Demonstrate suitability when recommending a switch.

What's covered

  • What the regulator considers to be suitable reasons for a client to switch
  • What you need to consider with the ceding scheme
  • What research the regulator expect advisers to carry out and where you can easily access the information
  • What needs to be included in a suitability report.

CPD certificate of completion

Once you've watched the webinar, simply complete the short quiz below and give us a few details in order to receive a CPD certificate of completion.

Check your knowledge

To gain your CPD certificate answer the following questions.

1. In the Regulator's thematic review of the quality of advice in pension switching, what percentage of the 500 files reviewed were deemed 'unsuitable'?
2. From these 'unsuitable' files, which of the following had the largest number of instances?
3. The Regulator has highlighted a number of reasons which they would accept as justification for a switch. Which of the following is not one of them?
4. Which of the following statements is true about pension switching?
5. What is the proposed normal minimum pension age (NMPA) from 2028?

CPD certificate details

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