Mercer under fire again after asking for £280k transferred pension pot back

Client had retired

Sophie King
clock • 4 min read

Investment consultancy and human resources giant Mercer has come under fire again after being accused of allowing a client to transfer part of their pension before asking for it back.

The client's financial adviser, who did not wish to be named, told Professional Adviser he was working with the client and his wife, who were both 55, and wanted to retire. The husband had the largest pension pot but it would only become available to the couple in five years' time, at age 60 so he requested a partial transfer of the client's defined contribution (DC) and defined benefit (DB) scheme from the firm totalling £350,000. Mercer confirmed the client could make the transfer and so he handed in his notice at work to officially retire. The adviser said that was as much of the c...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Administration expected to conclude in 2027

Isabel Baxter
clock 10 March 2026 • 3 min read
Majority of self-employed women fail to assess maternity leave/retirement impact

Majority of self-employed women fail to assess maternity leave/retirement impact

Just 18% said they had completed detailed planning on mat leave financial impact

Jenna Brown
clock 09 March 2026 • 2 min read
Everything advisers need to know about using a DB SSAS

Everything advisers need to know about using a DB SSAS

A DB SSAS operates using the regulatory framework as traditional DB pension arrangements

Caitlin Southall
clock 06 March 2026 • 4 min read