Govt mulls dropping advice requirement on expat pension transfers

In a consultation published on 30 September, the Department for Work and Pensions (DWP) asked for views on alternatives to the advice requirement, saying expat members were "exposed to unnecessary risk" under the current rules. Mandatory advice on defined benefit (DB) pension transfers was brought in after the pension freedom reforms last year, requiring the holder to seek regulated advice if the pension is worth more than £30,000. This applies to transfers to UK pension schemes as well as non-UK pension schemes.  Research in January found that more than a third of international advis...