Transfers out of the Armed Forces Compensation Scheme - February 2022

FOI Release Date of Release:

Reference Case Number: FOI8955

Freedom of Information: Right to know request:

I am writing to request information regarding how many people have transferred out of the Armed Forces Compensation Scheme.

Please provide the following information:

  1. How many individuals have transferred out of the Armed Forces Pension Scheme from 2013 until 2015?
  2. How many individuals have transferred out of the Armed Forces Pension Scheme from 2015 to 2021?
  3. Has the FCA carried out any enforcement action against firms which have advised military personnel to transfer out? If so, how many firms have had permissions revoked?
  4. How many ongoing investigations does the FCA have into firms which have advised military personnel to transfer out?

FCA response:

We can confirm that we do not hold the information requested in questions 1 and 2. The Pension Regulator and/or the trustee of the scheme may hold this information and so you may wish to contact them with your request. You can contact the Pensions Regulator via the below link:

https://www.thepensionsregulator.gov.uk/en/about-us/freedom-of-information-(foi)

For question 3, we can confirm that no enforcement action has been taken against firms which have advised military personnel to transfer out of the Armed Forces Pensions Scheme.

For question 4, we can confirm the FCA does not have any open enforcement investigations into firms which have advised military personnel to transfer out of the Armed Forces Pensions Scheme.