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

Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Administration expected to conclude in 2027

Isabel Baxter
clock 10 March 2026 • 3 min read
Majority of self-employed women fail to assess maternity leave/retirement impact

Majority of self-employed women fail to assess maternity leave/retirement impact

Just 18% said they had completed detailed planning on mat leave financial impact

Jenna Brown
clock 09 March 2026 • 2 min read
Everything advisers need to know about using a DB SSAS

Everything advisers need to know about using a DB SSAS

A DB SSAS operates using the regulatory framework as traditional DB pension arrangements

Caitlin Southall
clock 06 March 2026 • 4 min read