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illustration requirements

yannlangdonyannlangdon Member
in General

Hi guys,

I was wondering what the expectations are regarding providing illustrations where a client has an existing SIPP and just wants to make a top-up. COBS doesn't seem to cover this point at all and there is a bit of discussion around this point. thanks!

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Comments

  • Calvert76Calvert76 Member
    My understanding was that pensions and bonds always need illustrations. 360 recently confirmed that to us.
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  • richardgoughrichardgough Member

    A charge disclosure is required where charges are made (obviously), so what EXTRA charges will be incurred as a result of a new contribution?

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  • NathNath Member

    Yeah our understanding is that illustration would be required, but COBS says no suitability report oddly for top ups (appreciate networks/firms may have alternate views on this though).

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