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Around six out of 10 specialist retirement advisers admit they have been caught out by unexpected SIPP charges from providers, new research suggests.
A pensions business is immediately halting advice on DB pensions transfers, following discussions with the regulator.
Inspectors from the The Pensions Regulator have been sent to visit businesses in the Greater Manchester area as part of investigations into compliance.
New figures released today showed that defined benefit pension schemes transfer values increased last month.
The ombudsman has ruled against an advisory firm over a Sipp transfer for which the introducer was unregulated, despite “limited evidence” it was providing advice.