Yes it does, although there would be no need for the adviser involved in the transaction to be a pension transfer specialist. Where firms only want permission to be able to transfer plans where GARs are the only safeguarded benefit, the FCA will consider granting a limited permission.
Yes, they do, unless the safeguarded benefits are GARs. Whether GARs are involved or not, the advising firm has to have permission to transact pension transfers.
No, providing there are no safeguarded benefits but the advising firm would need to have permission to transact pension transfers.
No, this is not a pension transfer so no pension transfer specialist need be involved. The advising firm would also not need the pension transfer permissions unless GARs are involved.
Yes, advising on conversion or transfer of safeguarded rights to flexible benefits now counts as a pension transfer. So even if this conversion can be done within the same scheme, the adviser would need to be a pension transfer specialist and the firm would have to have permission to advise on pension transfers. The only exception would be where the safeguarded rights in question are GARs.
If the transfer is of safeguarded benefits (except GARs), then yes. If it involves DC benefits only, with no safeguarded benefits, then no. Again, the advising firm has to have permission to transact pension transfers.
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.