Over the last few years, the number of people looking for advice in relation to their Defined Benefit (sometimes referred to as Final Salary) pension schemes has increased dramatically. This has largely been as a result of the “pension freedoms” introduced in 2015. These changes brought flexibility but also new rules and regulations.
With the rise in demand for this specialised and complex advice there has been an increase in reported poor advice along with hidden charges leading to bad outcomes for consumers. To address this the Personal Finance Society (PFS) launched a voluntary code of good practice for firms committed to embed all nine principles of the Pension Transfer Gold Standard. Forbes Lawson successfully applied for this Gold Standard and were awarded it on 17th April 2019.
This is great news for people looking for this kind of specialist advice in the Aberdeen area. To know they are dealing with a pension transfer specialist that is a British Standards certified firm with ISO22222 accredited planners and the new Pension Transfer Gold Standard is fantastic reassurance.