Boom in cash-for-pension advice predicted as deals improve

An ETV offer is where an employer offers members of its pension scheme lump sums or a cash injection into their pot in exchange for transferring to a less generous arrangement. Often, the transfer is from a defined benefit (DB) to defined contribution (DC) pension, reducing the employers' open-ended liabilities. Pensions minister Steve Webb raised concerns in May about the practice of ETV exercises, saying in some cases members received poor advice and took bad deals. However KPMG's Enhanced Transfer Values Survey analysed 83 ETV offers made to 90,000 pension scheme members since 2...