Part 1: Financial Guidance Etc Rules etc about financial guidance Section 18: Personal pension schemes: requirements to refer members to guidance etc
This section amends section 137FB of the Financial Services and Markets Act 2000 (FCA general rules: disclosure of information about the availability of pensions guidance).
	Subsection (2) amends section 137FB to require the Financial Conduct Authority to make rules requiring the trustees or managers of personal and stakeholder pension schemes to refer members and survivors to appropriate guidance, provided by the single financial guidance body or one of its delivery partners, as part of the application process when a member or survivor applies to access or transfer their pension benefits. The rules must also require the trustees or managers to ensure that the member or survivor is provided with an explanation of the nature and purpose of the guidance.
	This subsection also requires the rules to provide that the trustees or managers must ensure that the member or survivor has received guidance or opted out of receiving guidance before they can access or transfer their pension benefits.
	The rules can make further provision about these requirements. This could include specifying how the confirmation that the member or survivor has received guidance or wants to opt out of receiving guidance must be given. The rules can also include exceptions where these requirements do not apply.
	Subsections (4) and (6) provide that before making these rules, the Financial Conduct Authority must consult both the Secretary of State and the single financial guidance body and have regard to any regulations that are in force under section 113B of the Pension Schemes Act 1993.
	Subsection (7) amends the definition of pensions guidance in subsection (4) of Section 137FB of the Financial Services and Markets Act 2000.