Rachel Vahey: Walking a fine line on DB transfer restrictions

In force from 30 November

clock • 3 min read

As fresh restrictions on DB transfers just came into effect, Rachel Vahey says being able to stop scams is an important step forward, but it cannot be done at the detriment of the pension transfer market...

A sobering thought for you: I have recently spent a lot of time talking about pension scams. This is partly the light the pandemic has shone on the problem, but there is also a growing focus from industry, regulators, and government. The scam of pension liberation or trust-busting - where victims are encouraged to transfer to another pension scheme and take the funds early - is rarer now than ten years ago. HM Revenue & Customs (HMRC) now takes a more stringent attitude to registering pension schemes, but there's also a more robust approach adopted by the industry. However, most peopl...

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

Mind the gap: Why advisers have a key role in closing the gender pension divide

Mind the gap: Why advisers have a key role in closing the gender pension divide

'While access to pensions has improved, barriers remain'

Julia Peake
clock 22 October 2026 • 5 min read
Planning points: Paying pension funds to charity on death

Planning points: Paying pension funds to charity on death

IHT on pensions may create opportunities for charitable giving

Martin Jones
clock 16 October 2026 • 3 min read
Torsten Bell: Pensions industry must 'give ground' to what savers trust

Torsten Bell: Pensions industry must 'give ground' to what savers trust

Torsten Bell says what the industry is doing is a ‘triumph’, but there must be transparency

Holly Roach
clock 15 October 2026 • 1 min read