Related provisions for COBS 19.7.3

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COBS 19.7.4GRP
(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).
COBS 19.7.8RRP
(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
COBS 19.7.9RRP
Based on how the retail client wants to access their pension savings, at step 2 the firm must ask the client questions to identify whether any risk factors are present.
COBS 19.7.13RRP
At step 3, a firm must give the retail client appropriate retirement risk warnings in response to the client's answers to the firm's questions.
COBS 19.7.15GRP
If after considering the retail client's answers it is unclear whether a risk factor is present, a firm should give the client the appropriate retirement risk warning.