OAC was interviewed by LexisNexis UK about the FCA's consultation GC17/1: 'Changes to the way firms calculate redress for unsuitable defined benefit pension transfers', which included what the proposals could mean for consumers, advice firms and professional indemnity insurers. OAC are experts in carrying out a wide range of complex actuarial and redress calculations. The article was first published on Lexis®PSL Pensions Analysis on 11 May 2017.
Pension redress methodology and unsuitable advice - changes on the horizon
"Pensions analysis: The Financial Conduct Authority (FCA) is consulting on updates to pension redress methodology. Roger Score, consultant actuary at OAC, says it’s good news for consumers and their champions that the FCA is proposing a methodology that is expected to increase the amounts paid in redress and that will put them, as best as can be ascertained, in the financial position they would have been in had they not been advised to transfer their defined benefit (DB) pension."
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