when is a pension transfer effected
Afternoon, I am looking for help on what the above actually means. our compliance state that the suitability report should be issued before apps signed, which i get and we normally do, but COBs state the below;
A firm must provide the suitability report to the client:
in the case of a life policy, before the contract is concluded;
in the case of a personal pension scheme or stakeholder pension scheme that is not a life policy, where the rules on cancellation (COBS 15) require notification of the right to cancel, no later than the fourteenth day after the contract is concluded;
in the case of a pension transfer or pension conversion, in good time before the transaction is effected; or
in any other case, when or as soon as possible after the transaction is effected or executed.
What do points 3 and 4 actually mean?