Mike Morrison: It's time for a rethink on DB pension transfer advice

It’s time for a rethink on DB pension transfer advice

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Pension transfers are a thorny issue. Mike Morrison argues if people are going to do it anyway, surely it's better for an adviser to be involved

I recently did five roadshows around the country with the AJ Bell Investcentre team, covering a number of issues from the new pension freedom regime. One of these was the always thorny topic of transfers from defined benefit (DB) schemes to defined contribution (DC) arrangements (self-invested personal pensions or personal pensions included). We have had some guidance from The Pensions Regulator (TPR) with its ‘DB to DC transfers and conversions' and from the Financial Conduct Authority (FCA) with its ‘Proposed changes to our pension transfer rules' (CP15/7). The TPR consultation c...

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