Related provisions for COBS 19.2.5
1 - 3 of 3 items.
3When giving a personal recommendation about a pension transfer or pension conversion, 5a firm should clearly inform the retail client about the loss of the safeguarded benefits5 and the consequent transfer of risk from the defined benefits pension scheme or other scheme with safeguarded benefits5to the retail client, including:55(1) the extent to which benefits may fall short of replicating those in the defined benefits pension scheme or other scheme with safeguarded benefits5;(2)
A1firm must retain its records relating to suitability for a minimum of the following periods:(1) if relating to a pension transfer, pension conversion, 4pension opt-out or FSAVC, indefinitely;(2) if relating to a life policy,2personal pension scheme2or stakeholder pension scheme, five years;(3) if relating to MiFID or equivalent third country business, five years; and(4) in any other case, three years.