Becketts awarded Pension Transfer Gold Standard

Pension Transfer Gold Standard

Becketts awarded Pension Transfer Gold Standard

Becketts has been awarded the Pension Transfer Gold Standard by the Pensions Advice Taskforce – a representative industry body set up by the Personal Finance Society and accredited by the Financial Conduct Authority.

The Pension Transfer Fold Standard seeks to give Defined Benefit pension holders confidence when they are considering transferring out of a scheme. The nine core principles of the Pension Transfer Gold Standard are:

  1. Helping clients understand when advice is appropriate
  2. Ensuring advice given supports the clients’ overall wellbeing in the context of their stated objectives
  3. Ensuring client understanding and acceptance of all charges
  4. Ensuring the most appropriate and updated technical skills are applied
  5. Transparent management of Conflicts of Interest
  6. Helping clients understand the cost of transferring benefits
  7. Avoiding unregulated investments and introducers
  8. Transparency in advice processes and outcomes
  9. Promoting the Consumer Guide to the Pension Transfer Gold Standard

Firms that adopt the Pension Transfer Gold Standard must:

  • Have regulatory permissions for provisions or pension transfer advice. Therefore, we have demonstrated high levels of the financial and technical knowledge required to appropriately advise on pension transfers.
  • Not currently be under any form of ongoing regulatory sanction by the regulator or accredited body in this field of advice. You can, therefore, rest assured that we operate to the highest standards.
  • Have adopted all the principles of the Pension Transfer Gold Standard without exception. Accordingly, you can have confidence that we will uphold the above principles.

Being advised by a firm that has committed to the Pension Transfer Gold Standard means you can be confident that you will receive the best possible advice, service and support when considering transferring out of a Defined Benefit pension scheme.

For more on the Gold Standard, download the Pension Advice Taskforce guides:

Download the short guide

Download the long guide

Philip James
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