DB members will struggle to access advice for DC transfers

The Treasury's consultation response to Budget changes, published yesterday allowed DB to DC transfers for members of private sector DB schemes subject to them taking regulated financial advice. This advice would need to be independent meaning the cost is likely to fall on the individual. However, many people will be reluctant to pay for this advice according to Punter Southall's head of private clients Henry Denne. "Much of the advice process will start on the presumption that remaining in DB is in the best interests of the individual," he said. "The cost or providing this advice ...