Recommending taking DB income
lauroyle
Member
Hi,
Sorry if this is a stupid question but I'm quite new to DB work and can't get a straight answer from anyone in the office on a case I have.
I have a case where we're recommending a few DC pension transfers and the adviser has half way thrown in that actually the client would like to start taking income from his DB now. I think that's fine as advice but we haven't undertaken a full review of the DB and not at NRD.
Would you still want to do full DB review and what would you think needs to be covered off in the report? Must be more straightforward than a transfer or even a non transfer recommendation but just can't get my head around it!
Thanks very much!
Sorry if this is a stupid question but I'm quite new to DB work and can't get a straight answer from anyone in the office on a case I have.
I have a case where we're recommending a few DC pension transfers and the adviser has half way thrown in that actually the client would like to start taking income from his DB now. I think that's fine as advice but we haven't undertaken a full review of the DB and not at NRD.
Would you still want to do full DB review and what would you think needs to be covered off in the report? Must be more straightforward than a transfer or even a non transfer recommendation but just can't get my head around it!
Thanks very much!
Comments
Its a retirement options report - consider options for Client - whats most suitable to client needs and whats being recommended. If giving up income for PCLS the effect of that on future income (less income but capital today). Escalation of benefits in retirement, spouses benefits etc - what are they.
If a DB transfer review has not taken place or been agreed with Client then no need to cover this.
Thanks very much @Northface