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...

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