Industry backs cutting mandatory advice for small pot transfers

The amendment to planned rules, announced in the Lords in January, will allow members with an equivalent transfer value of £30,000 or less to move to a defined contribution (DC) scheme without consulting a financial adviser. More than half (54%) of some 110 respondents to a poll conducted by Professional Pensions agreed with the government, while just under four in ten (39%) said the policy was wrong.   One pundit said: "It shouldn't even be compulsory for transfer values greater than £30,000. Blocking transfers until someone pays for advice to do something they were going to d...