Suspension of acceptance of Defined Benefit transfers

April 11, 2019

The Financial Conduct Authority has issued a letter to major pension providers regarding the acceptance of Defined Benefit Transfers.

The Board of Westerby have given this due consideration and until we are certain of the implications that this may have for Westerby, we do not consider that it is prudent to accept any Defined Benefit Transfers into our SSASs or SIPPs.

AMPS, our “trade body” will be discussing the letter with the FCA with a view to gaining the required clarification.

You may also be interested in

Westerby sponsor Soar Valley Allsorts Netball Club

Westerby sponsor Soar Valley Allsorts Netball Club

We are delighted to announce our sponsorship of Soar Valley Allsorts Netball Club. Formed in 2011, Soar Valley Allsorts Netball Club is a small, local netball team which grew out of the Back to Netball initiative. This scheme was formed in 2009 to encourage women who...

Metro Bank Customer Notice

You may be aware of press speculation relating to Metro Bank. You can read a full statement issued by Metro Bank in response to the press speculation here. Please note, SIPP and SSAS client money is held with banks which are authorised by the Prudential Regulation...