Financial regulatory implications of pension transfers

This overview provides signposts to Practice Notes which outlines relevant financial services regulatory implications arising from pension transfers, especially those relating to a transfer from a defined benefit (DB) pension to a defined contribution (DC) pension scheme and transfers involving personal pensions. Among other things, the Practice Notes provide a discussion around the regulated activities under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO) relating to the transfer of pensions, as well as the requirements of the Financial Conduct Authority relating to pension transfers.

DC to DB transfers

The government recognised that the pension freedoms introduced on 6 April 2015 for DC members (whereby such members may, if they wish, access their DC benefits through one or more lump sums, among

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Financial Services News

EPC publishes EDS Onboarding and Registration Guide

The European Payments Council (EPC) has released an EDS Onboarding and Registration Guide, offering step-by-step instructions on how the Verification of Payee (VOP) scheme participants and Routing and/or Verification Mechanism (RVM) can register for using the EPC Directory Service (EDS) via the EDS Graphical User Interface (GUI) and Application Programming Interfaces (APIs).

Financial Services—other developments (30/4/2025)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

EBA consults on RTS for real estate risk weights

The European Banking Authority (EBA) is consulting on draft amending regulatory technical standards (RTS) on the types of factors to be considered by national authorities in assessing the appropriateness of real estate risk weights. The review is driven by the revised Capital Requirements Regulation (EU CRR3), which confers a new mandate on the EBA. Responses are sought by 30 May 2025.

BoE speech on bulk purchase annuity sector priorities

The Bank of England (BoE) has published a speech by its executive director of insurance supervision, Gareth Truran, at the 22nd Westminster and City Annual Bulk Annuities Conference. Truran sets out three priorities for the bulk purchase annuity (BPA) sector: supporting investment, maintaining resilience, and improving transparency. Truran addresses the PRA’s early experience of Solvency UK, focusing on reforms to the Matching Adjustment (MA) regime and to PRA changes to its supervisory engagement including a dedicated MA Permissions Team which aims reach decisions on MA applications quickly and efficiently. Truran also addresses the PRA’s engagement with the National Wealth Fund and its proposed investment accelerator.

View Financial Services by content type :

News