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

AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell has called on chancellor John Healey to commit to a pension tax lock

clock 06 October 2026 • 2 min read
Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

'Real-world consequences of allowing pension tax speculation to run unchecked'

Rachel Vahey
clock 05 October 2026 • 3 min read
Triple lock played 'important role' but it would 'always need to end'

Triple lock played 'important role' but it would 'always need to end'

Pensions industry reacts to triple lock change

Holly Roach
clock 30 September 2026 • 4 min read