Fourth British Steel firm pulls out of DB transfer market

One firm with permission suspensions left

Hannah Godfrey
clock • 1 min read

Inspirational Financial Management, one of the firms associated with the British Steel Pension Scheme saga, has decided to pull out of the defined benefit (DB) pension transfer market.

The Financial Services Register entry for the Huddersfield-based firm no longer indicates that its DB pension permissions have been suspended. Under the permissions tab, however, the entry notes the firm has limited pension transfer activity, which only allows it to give advice on guaranteed annuity rates and non-safeguarded benefits, and not DB transfers. The Financial Conduct Authority confirmed the firm can no longer carry out DB pension transfers.  Inspirational has joined three other firms that advised steelworkers - Middlesbrough-based Acklam Financial, Wales-based Pembrokeshire...

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