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UK consumers planning pension transfers may be poorly informed, watchdog fears

By Sofia Gerace ( August 15, 2025, 11:30 GMT | Insight) -- UK consumers risk switching their pensions from one provider to another for "near-term reward" without considering the full financial implications, the Financial Conduct Authority has said as it published a review of life insurers’ pension transfer practices today. It said that whether a transfer is in a customer’s best interests depends on a “balance of factors and individual preferences,” urging firms to meet their Consumer Duty obligations.UK consumers risk switching their pensions from one provider to another for "near-term reward" without considering the full financial implications, the Financial Conduct Authority has said as it published a review of life insurers’ pension transfer practices today....

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