Contingent Charging Workshop

Monday, 09 September 2019
8:30 am – 11:00 am
    • Gareth Davies, Pension Specialist, Scottish Widows

Contingent Charging Workshop

Following the ongoing FCA scrutiny of the DB advice market and their ongoing work to make clear to advisers their expectations around the pension transfer advice rules, we now have the publication of the latest Consultation Paper CP 19/25.

This paper sets out the FCA's proposed measures to change how advisers manage and deliver pension transfer advice, particularly for defined benefit (DB) to defined contribution (DC) transfers.

The FCA are consulting on banning contingent charging and making other changes to their rules and guidance, including the following proposals:

  • To ban contingent charging, except for groups of consumers with certain identifiable circumstances that mean a transfer is likely to be in their best interests.
  • Where contingent charging is permitted, advisers will have to charge the same amount, in monetary terms, for advice to transfer as they charge when the advice is non-contingent.
  • To introduce a short form of ’abridged’ advice that can result in a recommendation not to transfer based on a high-level assessment of a client’s circumstances. This will fall outside the proposed ban on contingent charging and should help maintain initial access to advice.

In this session, Gareth Davies will explore and discuss all of the proposals contained in CP19/25, with a view to understanding the direction of regulatory travel in this advice space.

The learning outcomes are:

  • Understand all of the proposals contained in CP19/25
  • Understand the context and market drivers behind these proposed changes
  • Discuss and agree what best practice looks like in the context of these proposed changes
  • Awareness of the timelines involved

Places at this workshop are restricted in order to enhance the attendee experience.

  • AMP Technology Centre
  • Advanced Manufacturing Park, Brunel Way
  • Rotherham
  • S60 5WG
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CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

2 hours' CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at