Rise in DB schemes providing members with financial advice

The consultancy's 2024 annual member options survey, which surveyed almost 300 DB schemes, revealed more than a third of schemes provide members with support through educational tools and/or independent financial advice, with this number expected to increase to nearly 40% over the next year. The research also showed less than 5% of schemes only complied with the statutory requirements and provided no transfer options in retirement communications. Similarly, Aon said there was a reduction in the number of schemes that simply provided wording on the transfer options in retirement.  Aon ...