DB transfer complaints: A difficult balancing act for all parties

The legal perspective on DB transfer complaints

clock • 4 min read

Lawyers Claire Carroll and Laura Norris look at the history of DB transfer complaints since pensions freedom and urge everyone involved in the process to carefully consider potential consequences...

Since the introduction of pension freedoms in April 2015, the number of transfers from defined benefit (DB) to defined contribution schemes has increased as members take advantage of flexible access rules and greater autonomy over pension investments. This makes the DB transfer market significant. The Financial Conduct Authority (FCA) and the Pensions Ombudsman (PO) maintain that it is in most people's interests to keep their DB pension, although they appreciate a transfer can have benefits. A transfer can carry risks for a member and has, historically, been fertile ground for scams. ...

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

CRM integration project highlights AI-powered innovation potential

CRM integration project highlights AI-powered innovation potential

Project reflects a broader shift in adviser technology

Joe Power
clock 04 August 2026 • 3 min read
Pensions minister Torsten Bell: 'Together, we are going to finish the job'

Pensions minister Torsten Bell: 'Together, we are going to finish the job'

Bell was reappointed to the pensions minister role in the government reshuffle

Holly Roach
clock 27 July 2026 • 1 min read
Pension adequacy – are we focusing on the wrong measure of success?

Pension adequacy – are we focusing on the wrong measure of success?

'The current system can unintentionally create a false sense of reassurance'

Caitlin Southall
clock 24 July 2026 • 4 min read