Related provisions for COBS 19.4.3
1 - 4 of 4 items.
(1) 4A firm must give a retail client an open market options statement:(a) if the client asks a firm for a retirement quotation more than four months before the client’s intended retirement date; (b) if a firm does not receive such a request for a retirement quotation, between four and six months before the client’s intended retirement date; or(c) if a retail client with open market options tells a firm that he or she is considering, or has decided:(i) to discontinue an income
4An open market options statement must include:(1) the Money Advice Service fact sheet "Your pension: it's time to choose" available on www.moneyadviceservice.org.uk or a statement provided by a firm that gives materially the same information;(2) a summary of the retail client's open market options, which is sufficient for the client to be able to make an informed decision about whether to exercise, or to decline to exercise, open market options;(3) information about the retail
4At least six weeks before the retail client’s intended retirement date the firm must:(1) remind the client about the open market options statement;(2) tell the client what sum of money will be available to exercise open market options;(3) remind the client about the availability of the pensions guidance; and(4) recommend that the client seeks appropriate guidance or advice to understand their options at retirement.