Reference Case Number: FOI12189
Freedom of Information: Right to know request:
The total number of reports the FCA has received from pension schemes concerning pensions transfers since January 2022, split by calendar quarter and broken down into red flags, amber flags and refusals as well as the reasons for choosing red, amber or refusal, such as the following:
• individuals who provide unauthorised advice on pension transfers
• increases in the volume of transfers advised by the same adviser to the FCA
• if a member requested a transfer following a cold call or unsolicited contact
• if the member has been offered an incentive to make a transfer
• if the scheme has high risk or unregulated investments
• if the scheme charges are unclear or high
• if the scheme's investment structure is unclear, complex or unorthodox
• potential scam activity
Additionally, I would like to request the numbers of pensions transfer concerns that have been referred to the FCA from The Pensions Regulator (TPR) since January 2022, split by calendar quarter.
FCA response:
In response to the first part of your request, the total number of reports the FCA has received from pension schemes concerning pensions transfers since January 2022, split by calendar quarter and broken down into red flags, amber flags and refusals as well as the reasons for choosing red, amber or refusal, is set out in Annex A.
In response to the second part of your request, the numbers of pensions transfer concerns that have been referred to the FCA from The Pensions Regulator (TPR) since January 2022, split by calendar quarter, are as follows:
Q1 2025 = 2
Q4 2024 = 0
Q3 2024 = 1
Q2 2024 = 1
Q1 2024 = 0
Q4 2023 = *
Q3 2023 = 0
Q2 2023 = 0
Q1 2023 = 0
Q4 2022 = 2
Q3 2022 = 2
Q2 2022 = 3
Q1 2022 = 5
*Please note that data for Q4 2023 is not held.