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flag FCA warns pensioners of risks in accepting cash bonuses for pension transfers, reviews insurer processes.

flag The Financial Conduct Authority (FCA) has warned pensioners against accepting cash bonuses from companies for moving or consolidating pensions due to potential financial risks. flag The FCA also reviewed life insurers’ pension transfer processes, finding that most transfers are completed within 20 days. flag Meanwhile, the Rolls-Royce UK Pension Fund secured a £4.3bn buy-in deal, and seven Local Government Pension Funds are joining LGPS Central. flag The FCA highlighted issues with pension transfers, urging firms to balance incentives with fraud protection.

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