Editor's View: It's always worth keeping an eye on pension transfers

The editor's Friday Night Takeaway from 1 September

Hope William-Smith
clock • 2 min read

I’ve written from both the retail and the institutional side of finance in my time and let me tell you there is one specific topic of keen interest that pops up continuously wherever you are – defined benefit (DB) pensions.

More specifically…transferring them. What it costs, whether it's the right decision, how you charge for it, who should allow it, who can block, when it becomes a problem…the list goes on. This week however, a freedom of information request revealed suspicious transfer activity is quite low, despite the ongoing focus and investment in the area by the Financial Conduct Authority. The regulator is, in my humble opinion, right to press on with its requests for data around transfers. As the old saying goes, as soon as you take your eye off the ball…people start doing dodgy things with DB pension...

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 Adviser tips

Editor's View: Looking back at the week that was PA360

Editor's View: Looking back at the week that was PA360

The editor's Friday Night Takeaway from 26 April

Hope Coumbe
clock 26 April 2024 • 1 min read
Editor's View: The consolidation news keeps on coming

Editor's View: The consolidation news keeps on coming

The editor's Friday Night Takeaway from 19 April

Hope Coumbe
clock 19 April 2024 • 1 min read
IFAs must grasp gender differences to grow female client base

IFAs must grasp gender differences to grow female client base

IFAs must communicate differently to build trust with female clients

Jenna Brown
clock 17 April 2024 • 2 min read