The rule was introduced on 1^st April 2018, meaning a recommendation to transfer should only be done if it is in the client’s best interest

The adviser should consider:

• client’s intention for accessing flexible benefits;
• client’s attitude to, and understanding of, the risk of giving up safeguarded benefits for flexible benefits;
• client’s attitude to and understanding of investment risk;
• client’s realistic retirement income needs, including how they can be achieved, the role played by safeguarded benefits in achieving them and the consequent impact on those needs of a transfer, including any trade-offs; and
• alternative ways to achieve the client’s objectives instead of the