Related provisions for COBS 19.4.4
1 - 2 of 2 items.
(1) The purpose of this section is to ensure that a firm, which is communicating with a retail client about a pension decumulation product, gives appropriate retirement risk warnings at the point when the retail client has decided how to access their pension savings. (2) If the retail client has not yet decided what to do the firm should consider whether it is required to signpost the pensions guidance under COBS 19.4.5R (signposting pensions guidance).
(1) The first step is to ask the retail client whether they have received pensions guidance or regulated advice:(a) if the client says that they have, the firm must proceed to step 2; or(b) if the client says that they have not or is unsure, the firm must explain that the decision to access pension savings is an important one and encourage the retail client to use pensions guidance or to take regulated advice to understand their options at retirement.(2) If, after giving the explanation