Roles and Responsibilities

Question 1

Trustess Responsibilities

Answer 1

Provide a Statement of Entitlement within 3 months

And once every 12 months

Determine the basis for the TV

Decide if ICE goes up or down

Issue Communications to the member

Advise if Appropriate Independent Advice is required

Check AIA has been sought
- Adviser is Approved, Authorised and Regulated

Process the Transfer in line with Statutory requirements

Check Receiving scheme is willing/able to accept the transfer

Pay TV within 6 months of guarantee date

Question 2

Pension Transfer Specialist Responsibilities

Answer 2

Gather data on clients personal and financial circumstances

Establish needs and objectives

Make Recommendations appropriate to needs and objectives

Explain Advantages/Disadvantages of the recommended advice

Action the transfer if recommended

Provide confirmation that the AIA has been obtained by the client