DB pension advice: Redress liabilities dip below 5% of transfer values

First Actuarial found ‘considerable drop’ in financial risk associated with DB redress

Holly Roach
clock • 2 min read

Redress liabilities in relation to defined benefit (DB) transfer advice are likely to be below 5% of the transfer value advised, according to First Actuarial analysis.

The firm's Redress Tracker revealed a "considerable drop" in the financial risk associated with DB redress pension redress due to market changes including the falling price of annuities. The actuarial business said just four years ago, redress was typically about 40% of the transfer value – significantly higher than its latest findings. First Actuarial said many firms are "aware" redress has been dropping, with its tracker – which reflects a range of notional individuals and pension schemes rather than basing redress movements on one theoretical individual – offering an understanding ...

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

FCA non-advised pension transfer plans branded 'anti-consumer'

FCA non-advised pension transfer plans branded 'anti-consumer'

AJ Bell blasts FCA’s plans as ‘worst kind of regulatory intervention’

Jenna Brown
clock 23 February 2026 • 3 min read
Advisers search for more than 100,000 pension transfers via Origo

Advisers search for more than 100,000 pension transfers via Origo

In first year

Isabel Baxter
clock 23 February 2026 • 1 min read
Pension consolidation deserves more respect than it gets

Pension consolidation deserves more respect than it gets

'For me, pension consolidation is a perfect illustration of why financial planning matters'

Andy Zanelli
clock 19 February 2026 • 5 min read