RE: FCA bans contingent charging24 Jun 2020 08:57
One thing to consider, currently no fee is charged to SJP clients if they do not proceed with the transfer. There are stringent internal checks in place with SJP pension buisness with third party companies used to independently assess the safeguard benefits. As a result, many transfers do not proceed. The process is therefore fairly robust, not sure it will have a huge impact and should limit any future claims
I’d be more concerned with future inflows as a lot of the reported inflows will be relating to business written in early 20 before the lock down really hit home