Related provisions for COBS 19.7.8

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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:3(a) explains the nature and purpose of pensions guidance to the retail client;3(b) encourages the retail client to receive pensions guidance; and3(c) gives appropriate retirement risk warnings,3at 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,2 the firm
2If the value of the retail client’s pension savings is £10,000 or less and there are no safeguarded benefits, the firm:(1) is not required to ask questions to identify whether any risk factors are present; and(2) must prepare appropriate retirement risk warnings based on the risk factors relevant to each pension decumulation product it offers to enable retail clients to access their pension savings.